CITIC Capital’s fourth China buyout fund raises $2.8 bln


CITIC Capital Partners said Aug. 8 that it closed its fourth China buyout fund on its $2.8 billion hard cap. CITIC Capital China Partners IV LP will focus on consumer, healthcare, business services, consumer services, TMT, and industrial sectors. CITIC’s third China buyout fund raised $1.575 billion in 2017.

PRESS RELEASE

CITIC Capital Partners Closes Fourth China Buyout Fund at USD2.8 billion,
Reaching Hard Cap

(Hong Kong, 8 Aug 2019) CITIC Capital Partners (“CCP”), the private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”), is pleased to announce the final closing of its fourth China buyout fund, CITIC Capital China Partners IV, L.P. (“CCCP IV”), at USD2.8 billion, reaching its hard cap. The largest PE fund to-date for CITIC Capital, CCCP IV will bring CITIC Capital’s total assets under management to over USD26 billion.

CCCP IV attracted strong support from a mix of existing and new investors, who represent a broad base of global private capital, including pension and sovereign wealth funds, insurance companies, financial institutions, family offices and fund–of-funds. The fund builds upon the success of its third China buyout fund, which raised USD1.575 billion in 2017.

Yichen ZHANG, Chairman & Chief Executive Officer of CITIC Capital, said, “We are deeply grateful for the tremendous trust and support from our investors. This successful fundraising is a testament to the excellent track record of our private equity team, whose core members have been with us since CITIC Capital’s inception. Despite the current global and domestic headwinds, we continue to believe in China’s long-term growth potential and are confident that CCCP IV will deliver outstanding returns to investors through our unrivalled access network in China and exceptional value-creation capabilities.”

The U.S. dollar-denominated fund will continue to focus on consumer, healthcare, business services, consumer services, TMT, and industrial sectors, and will leverage CITIC Capital’s experience in leading highly complex carve-out and cross-border deals with unique China value-creation angles. To date, CCCP IV has already completed the acquisitions of leading beauty e-commerce service provider Hangzhou UCO Cosmetics and top supply chain pooling solution provider China Merchants Loscam.

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About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD26 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 850,000 people around the world.

CITIC Capital’s private equity arm, CITIC Capital Partners, focuses on control buyout opportunities globally and has completed over 70 investments in the past years in China, Japan, U.S., Europe and etc.. CITIC Capital Partners currently manages USD7.4 billion of committed capital. For more information, please visit www.citiccapital.com.