CHINA / SOCIETY
By Global Times Published: May 25, 2021 06:11 PM
Photo: ICShanghai is dedicated to further opening up two-way financial investment with multiple measures like further promoting the Qualified Foreign Limited Partner (QFLP) and Qualified Domestic Limited Partner (QDLP) pilot programs, in an effort to accelerate building the city into a global asset management center, according to a document released by the local government on Tuesday.
The city will promote foreign institutions to participate in the QFLP pilot program to manage domestic yuan funds and encourage qualified domestic institutions to become involved in the program.
Under the scheme, QFLP pilot institutions will be encouraged to carry out investment in multiple sectors including domestic non-listed company equity, private placement and mezzanine funds of listed companies and venture capital funds.
Chinese PE Huagai Capital builds $124m RMB continuation fund for healthcare assets
Photo by Josh Appel on Unsplash
May 24, 2021
Huagai Capital, a China-focused private equity firm that invests in healthcare, TMT, and culture sectors, has restructured its healthcare investments into an 800-million-yuan ($124.4 million) continuation fund.
Shenzhen Capital Group, a Chinese investment conglomerate with about 412.2 billion yuan ($64.1 billion) in total assets under management (AUM), co-launched the fund as its biggest limited partner (LP). Hong Kong-based TR Capital, which specialises in secondary PE investments in the Asia-Pacific region, was another cornerstone LP.
The transaction saw Beijing-based Huagai restructure six healthcare investments from three of its existing funds into the new RMB-denominated continuation fund – a vehicle built to take on the portfolio investments of a fund that is nearing the end of its lifespan. By setting up a continuation fund, LPs are given the o