Cathay Capital Private Equity Reaches US$701 Million First Close for Cathay Midcap II (Multi-region)
Source(s): Cathay Capital Private Equity
Global private equity fund manager Cathay Capital Private Equity has reached an EUR600 million (approximately US$701 million) first close for Cathay Midcap II. Investors in the fund include China Development Bank, Bpifrance and the China-EU Co-investment Fund—a partnership between the European Investment Fund and the Silk Road Fund—as well as sovereign wealth funds, family offices and other institutions. The fund, which is targeting EUR1.2 billion (approximately US$1.4 billion) in total commitments, will invest in mid-sized companies in various sectors, including health care, consumer goods and business services, in China, Europe and North America.