Mandarin Capital sells 40% stake in Dagong Europe
Mandarin Capital Partners has sold its 40% stake in Dagong Europe, an Italy-based credit rating business, to parent company Dagong Global Credit Rating.
The deal means the business is now wholly owned by Dagong Global.
Mandarin Capital is currently fundraising for its second fund, a vehicle with a €500m target that held a first close on €110.5m in September last year. In June 2014 the GP sold its 67.6% stake in Genoa-based Italmatch Chemicals to Ardian.
Company
Founded as a co-venture between Mandarin and Dagong Global in 2012, Milan-based Dagong Europe is a credit rating agency. The business received authorisation from the European Securities Market Authority in June 2013.
People
Ulrich Bierbaum is general manager of Dagong Europe, while Jianzhong Guan is the company's chairman. Lorenzo Stanca is managing partner of Mandarin.
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