Chinese private equity fund Hony Capital is seeking to raise nearly $2.6 billion in a new fund, Reuters reports. Meant for its fifth dollar fund, this is its biggest-ever dollar fundraising and almost double the previous $1.4 billion fund raised in 2008.
The firm is backed by Legend Holdings and has around $4.4 billion of assets under management, raised in four U.S. dollar funds and two yuan funds since 2003. Its investors include Goldman Sachs Group, Temasek Holdings, Stanford University, the Bill & Melinda Gates Foundation, the California State Teachers Retirement System and the Canada Pension Plan Investment Board.
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