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China's private equity firms gears up for the big league

August 20
1:18 AM 2013

China's private equity firms are catching the attention of the financial industry. The international market industry is slowly recognizing China's private equity firms for its increased visibility in the market. 

China's private equity firms are making bigger deals and confidently acquiring foreign assets. The new exhibition of maturity shows as private equity firms in the country are no longer relying on local revenues alone. 

Hony Capital Ltd, for example is one of China's private equity firms who are putting their investments overseas and taking on more complicated deals.  John Zao Chief Executive of the firm, revealed in a statement that Hony was able to raise USD 2.4 billion as its fifth and largest fund in the last year alone.Currently, Hony Capital is halfway through a deal that would raise a USD 1.6 billion fund, according to Zao.

Other notable deals by Chinese private equity firms include those of China EverBright Ltd, Fountain Vest Partners and Critic Capital Partners. The three Chinese private equity firms merged with the Carlyle Group LP in the buyout of Focus Media Holdings for USD 3.7 billion.  Focus Media is a an advertising firm that owns commercial screens in public zones and elevators in China. 

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