The Fundraising Conversation

For some fund managers, raising capital is a full-time job. And more are turning their gaze east. China is emerging as an important source of institutional and high net worth individual investors – with a burgeoning middle class, a maturing capital market and a government keen on importing investment know-how. Sequoia is reportedly raising its largest-ever $8 billion war chest and is said to be targeting Chinese investors. Carlyle and WL Ross & Co. are among firms currently raising yuan-denominated vehicles. With a different language and culture, however, the market can be daunting. I caught up with Chris Lerner, partner and head of Asia at placement agent Eaton Partners to get the latest of fundraising trends in China. “Everyone’s got a friend and a story that someone has raised money out of China or out of the region,” he said. “That doesn’t necessarily translate into a clear, viable path to dialogue around institutional investor commitment.” “If you don’t know where to start, you can waste a lot of time giving people a free education.” Read the full interview here. Talking about fundraising, the Beijing municipality is opening its arms wider to Western PE, VC and mutual funds, writes our reporter Jane Yi... Read more

Singapore’s GIC Buys Interest in Chinese Credit Ratings Firm

Singaporean sovereign wealth fund GIC has acquired Fitch Ratings’ 49% interest in China Lianhe Credit Rating Co., as the Chinese government continues to build out the country’s credit markets. “GIC believes ratings agencies will play an increasingly important role in the pricing of bonds and the identification of risks,” a GIC spokesperson said in an email statement. Please login/register to view this content. Read more