CITIC Capital Partners Raises $925B For Buyout Fund

CITIC Capital Partners, the private equity unit of state-owned CITIC Capital Holdings, raised $925 million for its second China buyout fund, the CITIC Capital China Partners II, exceeding its original target of $750 million, reports ChinaVenture, citing a company filing.

CITIC Capital China Partners II will focus on buyout and investment opportunities in Chinese enterprises that will benefit from China's long-term economic growth and development,  especially those in the manufacturing and consumer goods sectors.

CITIC Capital Holdings is an alternative investment management and advisory firm. It is mainly engaged in private equity investment, real estate, structured investment and finance and asset management. It currently manages more than $3 billion of capital and has subsidiaries and offices in Hong Kong, Shanghai, Beijing, Tokyo and New York.