China's 1st financial industry PE fund

China launches 1st financial industry PE fund Published: 05 Aug 2009 00:16:59 PST Aug. 5, 2009 (China Knowledge) - China's first financial industry private equity fund was set up in Shanghai on Tuesday as part of the city's effort to become a global financial center. The fund, which is expected to raise up to RMB 20 billion, will be run by GP Capital Co Ltd, which was jointly established yesterday in Pudong New Area by Shanghai International Group, the investment arm of the Shanghai government, and China International Capital Corp, the largest investment bank in the country. The two sides each hold a 50% stake in GP Capital. GP Capital plans to raise RMB 8 billion in the first phase of fund-raising, said Bei Duoguang, managing director of China International Capital and president of GP Capital. Bei said that the fund will invest in nationwide financial institutions such as insurance companies, banks, fund management firms, brokerages and trust companies. Bei also said that he didn't rule out the possibility that China's National Social Security Fund would be a future partner, though no talks have been held so far. Domestic media reported last week that the NSSF may take a 20% stake in GP Capital. The Pudong New Area in June released a new policy to attract foreign PE firms. To date, four foreign institutions have submitted applications to set up in the area.   China Opens 1st Government-Backed Financial Sector Private-Equity Fund SHANGHAI -(Dow Jones)- China's first government-backed private-equity fund to invest in the financial sector opened Tuesday, the fund company said in a statement. The fund, GP Capital, is a 50-50 joint venture between Shanghai government- backed investment firm Shanghai International Group and China International Capital Corp., which is 34%-owned by Morgan Stanley. The fund's launch follows approvals from the National Development and Reform Commission and the Cabinet on July 15. Duoguang Bei, chief executive of GP Capital and a managing director at CICC, said the fund is still in its first-stage fundraising of CNY8 billion (US$1.17 billion). It aims eventually to raise CNY20 billion. Potential investors include banks, insurance companies, and China's pension fund, the National Council for Social Securities Fund, Bei said. The firm " doesn't exclude" allowing the national pension fund taking an equity stake in the future, he said. Last week, the China Business News cited an unnamed Shanghai International Group official as saying the National Council for Social Securities Fund may take a 20% stake in GP Capital. Bei said the fund aims to invest in Chinese financial companies with a national presence, including banks, brokerages, insurance companies, and mutual fund and trust firms. No investment decisions have been made, but the firm has begun studying a variety of investment targets, he said. GP Capital said it aims to participate in the restructuring of China's financial companies, as well as their listings and mergers and acquisitions. "Despite the global financial crisis, we still find a lot of opportunities in the financial market in China," Bei said. China started experimenting with creating government-backed private-equity funds three years ago to invest in specific sectors. It has cultivated 10 so- called industrial investment funds, including Bohai Industrial Investment Fund Management Co., with the backing of local governments and prominent state-owned financial firms. Bei said China's private-equity market is still in its infancy. The roughly CNY8 billion raised by private-equity funds each year is just a tiny fraction of around CNY4 trillion in new bank loans each year, he said. "You can imagine how much growth potential there is," Bei said. -Rose Yu contributed to this story, Dow Jones Newswires; 8621 6120-1200; rose.yu@dowjones.com (END) Dow Jones Newswires 08-04-090602ET Copyright (c) 2009 Dow Jones & Company, Inc. 中国私募股权基金GP Capital成立 出处：华尔街日报 | 2009-8-5 20:28:03 | 阅读 480 次 中国首只获政府支持、投资金融业的私募股权基金周二宣告成立，该基金名为GP Capital。贝多广表示，该基金计划投资于业务范围遍及全国的中国金融企业，包括银行、证券公司、保险公司、共同基金和信托公司。 中国首只获政府支持、投资金融业的私募股权基金周二宣告成立，该基金名为GP Capital。该公司在一份公告中宣布了上述消息。 GP Capital是由上海国际集团有限公司(Shanghai International Group Co.)和中国国际金融有限公司(China International Capital Corp., 简称：中金)分别持股50%成立的合资公司。摩根士丹利(Morgan Stanley)持有中金34%的股份。 该基金于7月15日获得中国国家发展和改革委员会(National Development and Reform Commission, 简称：发改委)和国务院的批准。 GP Capital首席执行长兼中金董事总经理贝多广表示，该基金仍处于起步阶段，第一阶段计划募集资金人民币80亿元（合11.7亿美元）；最终目标是筹资人民币200亿元。 贝多广说，潜在投资者包括银行、保险公司和中国的退休基金全国社会保障基金(National Council for Social Securities Fund)。他说，不排除将来允许全国社会保障基金持股的可能。 《第一财经日报》上周援引上海国际集团一位未具名管理人士的话称，全国社会保障基金可能持有GP Capital 20%的股份。 贝多广表示，该基金计划投资于业务范围遍及全国的中国金融企业，包括银行、证券公司、保险公司、共同基金和信托公司。 他说，公司尚未作出任何投资决定，但已经开始对各类投资目标展开研究。 GP Capital表示，计划参与中国金融企业的重组、上市及并购交易。 贝多广说，虽然面临全球金融危机，他们仍然认为中国金融市场存在大量机会。 中国三年前开始尝试创立投资于特定行业的政府支持私募基金。在地方政府和著名国有金融企业的支持下，中国已经发展了10家所谓的产业投资基金，其中包括渤海产业投资基金管理公司(Bohai Industrial Investment Fund Management Co.)。 贝多广表示，中国的私募市场仍然处于发展初期。每年私募基金筹资规模约为人民币80亿元，与人民币4万亿元的新增银行贷款相比显得微不足道。 他说，由此可以想像私募基金的发展空间。 上海拟放宽境外私募股权投资公司投资 规定 关于下班后关闭电源的规定党章中关于入党时间的规定公务员考核规定下载规定办法文件下载宁波关于闷顶的规定 2009-8-5 华尔街日报 上海市金融服务办公室主任方星海周二表示，上海市政府已向中国监管机构提出申请，建议在上海浦东新区启动一个试点项目，旨在为境外私募股权投资公司筹集人民币资金和在华投资提供便利。