Hony Capital Raises Mega China-based Fund

Hony Capital is aiming to raise up to $2.6 billion in a new private equity fund, Reuters reports. The fund looks set to be the biggest ever dollar raising for a China-based fund, said Reuters.

PRESS RELEASE

(Reuters) – Hony Capital is aiming to raise up to $2.6 billion in a new private equity fund, two sources said on Monday, in what is set to be the biggest ever dollar raising for a China-based fund.

Hony’s fifth dollar fund raising is nearly double its previous $1.4 billion fund raised in 2008, sources with knowledge of the matter told Reuters. Hony CEO John Zhao had flagged the fund raising in June without giving details.

The fund was launched in August, a third source said.

Hony Capital, backed by Legend Holdings, declined comment. The sources were not authorised to speak to the media.

(Reporting by Stephen Aldred; Editing by Denny Thomas)