Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, says it has signed a memorandum of understanding with Chinese state-owned investment company The CITIC Group to establish a US$10 billion fund to invest in the region, according to an official statement. His Excellency Ahmad Al-Sayed, CEO of QIA, made the announcement at the opening of the Credit Suisse Fifth Annual Emerging Markets Leadership Forum in Beijing. The fund will be a 50:50 joint venture between the two parties. QIA is open …
Beijing-based Chinese security software firm Kingsoft Corporation Limited says it plans to establish a RMB200 million (US$33 million) fund to invest in intellectual properties in China, according to a regulatory filing. The fund will be jointly established by a subsidiary of Kingsoft, a subsidiary of Chinese smartphone maker Xiaomi Inc., and another entity connected with Xiaomi’s founder, Lei Jun. Lei Jun is also the co-founder and chairman of the board of Kingsoft.
Singapore-based private equity firm Tembusu Partners and Yu Dong, chairman of NASDAQ-listed Chinese firm distributor Bona Film Group Limited, have launched a US$100 million investment fund to invest in China’s media and entertainment industry, according to an emailed statement. Singaporean media entrepreneur Calvin Cheng is also a backer of the fund, which is to be based in Singapore. Cheng put the deal together.
Chinese conglomerate Fosun Group and the Zhejiang provincial government have jointly launched a fund-of-funds (FoF) with a fundraising target of RMB10 billion (US$1.6 billion) to focus on cross-border deep value investment opportunities and help drive economic upgrade of the province.
Chinese media mogul Bruno Wu has joined forces with online financial services firm Yucheng International Holdings Group Limited to launch a US$1.6 billion investment fund to back international film and television projects, according to media reports.
Tianjin-based traditional Chinese medicine and healthcare company Tasly Holding Group has teamed up with Taikang Life Insurance Company Limited to launch a China healthcare fund with RMB5 billion (US$784 million) in total capital commitments, says a company announcement.
Beijing-based mobile sales management tool FXiaoKe has teamed up with IDG Capital Partners, Northern Light Venture Capital, and China Soft Capital to launch a US$20 million investment fund to invest in the Software as a Service (SaaS) sector in China, according to a news article posted on the company’s Weibo account.
China’s National Council for Social Security Fund (NSSF) has agreed to commit RMB6 billion (US$938 million) to an infrastructure investment fund launched by China Communications Construction Company (CCCC), according to a securities filing.
Industrial and Commercial Bank of China (Europe) S.A. (ICBC Europe) says its ICBC Credit Suisse S&P China 500 Index Fund has been authorized by the Luxembourg regulator, marking the first UCITS product to access China via Luxembourg Renminbi Qualified Foreign Institutional Investor (RQFII) quota, according to an announcement.
State-owned investment firm Guangdong Technology Financial Group Co., Ltd., Ping An Bank Co., Ltd and Shanghai Construction Group have signed a memorandum of understanding to establish a Guangdong province environmental protection fund with RMB6.3 billion (US$970 million), according to an official announcement.
Suning Commerce Group, one of China’s largest electronics retailers, plans to create a separate investment arm seeking to raise as much as RMB50 billion (US$7.7 billion) within five years.
China Everbright Limited (CEL) and Focus Media Information Technology Co., Ltd. have agreed to establish an new industry investment fund with a targeted fundraising total of RMB5 billion (US$749 million), according to a company announcement.
A U.S. investor has challenged a management buyout proposal to take NASDAQ-listed Sinovac Biotech Ltd. private, saying the management and insiders made the bid one business day after the company received approval to produce a groundbreaking vaccine in China.
Alibaba Group Holding Ltd. plans to raise a RMB10 billion (US$1.5 billion) investment fund to support China’s cultural, media and entertainment sectors, as the e-commerce giant aims to capture a larger share of Chinese consumers’ leisure time.
Shenzhen-based Chinese technology firm Kuang-Chi Group announced today the launch of a US$250 million fund to invest in global technology companies with the aim of helping them to enter and expand in China, according to an announcement.
New York Stock Exchange-listed Chinese hospital management solutions provider Concord Medical Services Holdings Ltd. has set up a healthcare fund in partnership with Zhongrong International Trust Co., Ltd., it said in a statement.