August 8, 2019 / 2:10 AM / 9 days ago

China's CITIC Capital raises $2.8 billion in biggest private equity fund

HONG KONG, Aug 8 (Reuters) - CITIC Capital, the flagship alternative investment arm of Chinese financial conglomerate CITIC Group, said it raised $2.8 billion in its fourth China buyout fund to bolster its ability to cut more deals in the world’s second-largest economy.

The CITIC Capital China Partners IV, the firm’s biggest private-equity fund to date, has secured “strong” interest from a mix of existing and new investors including pension and sovereign wealth funds, insurers and family offices, CITIC Capital said in a statement on Thursday.

The latest fund will continue to seek control buyout opportunities with a China angle across sectors including consumer, healthcare and technology, it said.

Reporting by Julie Zhu; Editing by Michael Perry

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