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China-based CreditEase seeks to raise $200 mln for global PE fund: Bloomberg

Chinese wealth manager and lender CreditEase Group is targeting $200 million for a global private equity fund, according to Bloomberg News. The fund will focus on consumer, telecom, healthcare, industrial, media and tech companies in North America, Western Europe and Asia. Seungha Ka, who heads offshore private equity at CreditEase, told the outlet that the fund will allow Chinese investors “to tap assets overseas, with investments starting from $150,000.” The limited partners will include KKR and Blackstone Group LP. CreditEase owns Yirendai, an online consumer finance marketplace, which currently trades on the New York Stock Exchange.