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Prax Capital Raising New Fund

XIAMEN, China, Sept 8 (Reuters) – Prax Capital, a China-focused U.S. private equity firm, plans to raise $500 million to $600 million this year for a fund to invest in high-growth firms, executive director Li Detai said on Monday.

Li was speaking on the sidelines of a conference in the southeast Chinese city of Xiamen. (Reporting by Pily Zhou; Writing by Edmund Klamann; editing by Jonathan Hopfner)