CITIC Capital Partners, the private equity arm of CITIC Capital Holdings (CITIC Capital), today announced the final closure of its second China buyout fund, CITIC Capital China Partners II, (CCCP II).
The closing brings to the fund total capital commitments of $925 million. The initial intended fundraising target was $750 million. CCCP II will target buyout and privatization investments in Chinese companies benefiting from the long-term development of the Chinese domestic economy, particularly in the consumer products and manufacturing sectors.
"We are delighted by the strong support we have received from both existing and new investors. We are confident that our unique combination of top-tier investment professionals coupled with the unparalleled support of our sponsors will continue to produce exceptional investment opportunities for CCCP II," said Zhang Yichen, CITIC Capital's chief executive officer.
Founded in 2002, CITIC Capital Holdings is an alternative investment management and advisory firm. The firm manages over $3 billion of capital from a diverse group of international and Chinese investors.
The core businesses include private equity, real estate, structured investment & finance and asset management. CITIC Capital currently employs over 150 staff members across its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York.
CITIC Capital is owned by China Investment Corporation (CIC), China's sovereign wealth fund, CITIC International Financial Holdings (CIFH) and Hong Kong-listed CITIC Pacific Limited. Both CIFH and CITIC Pacific are part of CITIC Group, the largest and most comprehensive conglomerate in China.
