How considerate!
by Sarah Miloudi on Apr 01, 2011 at 09:47
Lord Jacob Rothschild’s RIT Capital Partners
is seeding a new global private equity venture
for Chinese investors.
The £2 billion investment trust is seeking to pull in $750 million (around £467.9 million) for the venture, which is thought to be the first of its kind allowing onshore money to be invested overseas via a foreign private equity vehicle.
Investors will primarily come from the newly-formed China International Chamber of Commerce for the Private Sector, which is tasked with enabling and organising overseas investment by mainland Chinese private enterprises.
A joint venture to manage the fund has been set up between RIT Capital Partners, Creat Group and Quercus Ventures. Together, the firms will use the fund to take significant unleveraged minority stakes in international companies, excluding those based in Japan.
