Belgian, Chinese sovereign funds to launch joint vehicle

The China-Belgium Mirror Fund will take minority stakes alongside Chinese firms in mid-sized European companies with strong potential in China. It is the first mirror fund that China has set up in the eurozone.

A Capital will manage the fund, which will initially invest up to €50m in European companies that focus on automotive, environmental or consumer-branded goods that are under-developed in China, alongside Chinese players. The target size of the fund is set to be €250m, but may reach €500m over time, with family offices and other potential investors coming in.

Earlier this week, CIC also confirmed plans for a joint $4bn investment fund with the Russian Direct Investment Fund (RDIF). Each party will put in $1bn, with the remaining $2bn expected to be generated from Chinese institutional investors. The new vehicle is earmarked for launch by the end of June 2012.

This article was originally published in unquote" sister publication AVCJ. Read the original story here.

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