Cathay hits €460m first close for Sino French fund

The new vehicle, which is targeting €500m, succeeds the €150m Sino French Fund for SMEs, which closed in 2012.

The early success of the fund highlights growing demand from LPs for exposure to funds that invest across European and Asian markets. Read our analysis on the topic here.

Investors
The vehicle has been cornerstoned by Bpifrance and China Development Bank, through its investment arm CDB Capital, each committing €100m. Also investing in the fund are Cathay's existing LPs, which comprise international institutional investors, entrepreneurs and family offices.

Investments
The vehicle, named Cathay Midcap Growth Fund III, will invest in mid-market companies throughout Europe and China, with a particular focus on the German Mittlestand. Compared to its predecessor, the Midcap fund will invest larger amounts in bigger companies by taking significant minority stakes as well as majority positions where relevant.

People
Nicolas Dufourcq is chairman of Bpifrance. Haibin Fan is president of China Development Bank. Mingpo Cai is president of Cathay.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• DACH
• Fundraising
• Buyout
• France
• Germany