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Fundraising, Private Equity

Dah Chong Hong And CITIC To Jointly Raise New Consumer And Healthcare Fund

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Dah Chong Hong Holdings Ltd., a Hong Kong-listed distributor and dealer of motor vehicles in Greater China, said it plans to partner with its parent company that is a subsidiary of CITIC Ltd. to establish an investment fund to back consumer and healthcare companies.

The Tamar Alliance Fund will initially have US$80 million contributed by Dah Chong Hong and CITIC Pacific Ltd., a wholly-owned subsidiary of CITIC Ltd. The new fund will invest in consumer or healthcare companies in Asia, and plans to raise additional capital from other limited partners, according to a company announcement. It did not say how much the fund aims to raise in total.

The Asian market for consumer goods and healthcare products is large and growing rapidly, driven by rising demand from an increasingly affluent middle class across Greater China and Southeast Asia. By combining resources with CITIC Pacific and other potential fund participants, Dah Chong Hong is positioning itself to secure greater exposure to this significant market opportunity, according to the announcement.

All investments will aim to leverage Dah Chong Hong’s experience working alongside over 1,000 brands and its extensive logistics network.

“With the establishment of the Tamar Alliance Fund, DCH continues a rich history of serving Asian markets and consumers. Equity investment in select companies and the ongoing support of CITIC Pacific will enable us to strengthen existing capabilities and leverage our established regional network to benefit directly from evolving Asian economies,” said Frank Lai, CEO of Dah Chong Hong.

Dah Chong Hong is a distributor and dealer of motor vehicles in Greater China and provides motor related services including maintenance, rental, repair and financing. The company’s consumer products business includes the distribution of food, fast-moving consumer goods, healthcare and electronic products as well as food processing, trading and retail.

CITIC Pacific is a wholly owned subsidiary of CITIC Ltd., a Hong Kong-listed Chinese conglomerate. CITIC Pacific’s key businesses include special steel manufacturing, power generation and real estate development.

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