China Everbright holds $264m first close for maiden overseas fund

Similar to Germany-based AGIC Capital, CEL Global will seek to generate value in part by helping its portfolio companies bring their technology and products to the Chinese market.

The fund will be managed by CEL, a Hong Kong-listed investment vehicle, and will be structured as a typical buyout fund.

Investors
As per US regulatory requirements, commitments to the fund are only permitted from professional investors.

Investments
CEL Global will target private companies in the US and Europe as well as equity-linked securities.

The vehicle's strategy will target companies with a proven Chinese track record or the potential for growth on the Chinese market, and which are important to China's economic transformation and development.

In terms of sectors, CEL Global will be a generalist buyout vehicle, investing across verticals including manufacturing, transportation equipment, agricultural products and technologies, consumer products, clean energy, environmental and resources management, technology, media and telecommunications, wealth protection and healthcare.

The fund has to date made a single investment, acquiring Michigan-based manufacturing equipment business Burke E Porter Machinery Company.

People
China Everbright – Shengyan Fan (general partner).

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• Topics
• Buyout
• Fundraising
• United States