Mar 14, 2016

ACCEPT COOKIES We use cookies to create the best possible browsing experience for AltAssets website visitors. By closing this box you agree to the use of cookies according to our privacy & cookies policy . Shanghai Chengtou Holding to back Hony Capital’s Fund VIII 14 Mar 2016 Chinese real estate company Shanghai Chengtou Holding has reportedly invested RMB 400m ($62m) in the latest Greater China-focused fund of Asian private equity major Hony Capital. Hony Capital is the second-largest shareholder in the listed property developer, having paid RMB 1.8bn for a 10 per cent stake in Chengtou in 2013,  Deal Street Asia has reported. Apart from the Hony Capital Fund VIII, targeting $2bn, the private equity group is also raising a $600m co-investment side vehicle, the report said citing a regulatory filing. The side vehicle will enable LPs to access investments in businesses outside China which are considered to have strong potential for growth. The new fund will target investments in China, Hong Kong and Taiwan with half of the raised capital expected to go into state-owned enterprises, according to the report. The firm, which was launched in 2003, manages more than RMB48bn across five USD funds, two RMB funds and a pair of RMB mezzanine vehicles. Copyright © 2016 AltAssets