Domestic Private Equity Funds In China Defy Slowdown
Date: August 30, 2010
Local private-equity fundraising in China is defying a global slowdown, making an already tough market for deals even more competitive.
Elsewhere in the world, fundraising for private equity funds is down considerably from three years ago. But funds in China denominated in the country’s own currency, known as both the yuan and the renminbi, are seeing a fundraising bonanza. So far this year, such funds have raised US$9.13 billion, making up 77% of all China-focused private equity funds raised this year, according to Asia Private Equity Review. Yuan funds saw similar success last year, raising US$6.18 billion–making up 63% of the amount raised for China private equity funds.
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Source: Wall Street Journal
