US-based private equity firm Clayton, Dubilier & Rice (CD&R) has held a final close on its latest fund, Clayton Dubilier & Rice Fund VIII, on approximately $5bn, $1bn more than its predecessor vehicle which closed in 2006.
EQT IX is expected to be 70-75% invested following the deal
Previous fund held a final close in 2012 with capital commitments of USD 840m
MoU marks LBO France's first foray into the Chinese market, with plans to open a local office
ECI bought the asset from Phoenix less than three years ago