Asia-focused private equity firm RRJ Capital has purchased a 7.9 percent stake in Hong Kong-listed China Everbright International, a subsidiary of the conglomerate China Everbright Holdings, for HKD2.7 billion (approximately US$349.8 million). RRJ Capital, structured through RRJ Capital Master Fund II, subscribed to 318 million shares, which accounted for over 70 percent of new shares offered by Everbright International, through an institutional placement. The company, which operates environmental energy, water and alternative energy businesses, raised HKD3.7 billion (approximately US$477 million) by selling 430 million shares at HKD8.52 (approximately US$1.10) apiece.