Sailing Capital Management, a company controlled by Shanghai International Group (SIG), has launched a USD821 million (CNY5 billion) buyout fund. The said fund was launched through the investment firm's subsidiary, Shanghai Sailing Industrial Capital. This was according to a report published by China Money Network.

The buyout fund plans to invest in cross-border deals. Media report said the fund also plans to leverage its size through equity investments, loans, and bond issuances worth more than CNY20 billion, the report stated.

Xiaodong Liu, Chief Executive Officer of Sailing Capital, said the firm has inked a deal with the Shanghai Stock Exchange. The said agreement will support listed companies to acquire international targets and merge these businesses into the local listed firm, the report explained.

Sailing Capital presently controls Sailing Capital International. The latter is backed by the Shanghai municipal government and other related ministries. According to its website, Sailing Capital International has raised CNY12 billion in its first funding round, China Money Network reported.