CDIB Capital Asia Partners L.P Final CloseHong Kong, July 31, 2015
CDIB Capital International Corporation ("CDIB Capital"), the private equity arm of China Development Financial Holding Corporation ("CDF"), today announced the final closing of its maiden private equity fund. CDIB Capital Asia Partners L.P (the "Fund") with US$405,000,000 in commitments from a seasoned group of long term oriented international investors.
The fund will continue to execute on CDIB Capital’s successful "China-Plus" strategy, which capitalizes on the continued growth momentum of China as well a the broader Asia Pacific an China cross-border growth, while mitigating risks associated with investing solely in Mainland China. The Fund will provide expansion capital and operational expertise to companies that are well positioned to capture visible China cross-border "inbound" or "outbound" growth and unlock inefficiencies. Furthermore, the Fund will maintain a disciplined focus on its core area of expertise: consumer/ retail, advanced manufacturing and business services and leverage its international infrastructure and know-how to provide multiple avenues for exiting its investments.
The Fund will be managed by a veteran team led by Paul Yang, Chairman of CDIB Capital, President and CEO of CDF, and Lionel de Saint-Exupery, President and CEO of CDIB Capital, who have executed this strategy since starting CDIB Capital in 2006. "We are grateful for the support we received from an outstanding group of investors, which include leading funds of funds, family offices, sovereign wealth funds, insurance companies and corporations," said "We look forward to leveraging our entire organization’s capabilities to deliver superior returns to these investors."
"Limited partners these days have many options when it comes to private equity investment in the region," said Lionel. "We are thankful that our LPs have confidence in our proven strategy, which we will continue to pursue in a highly disciplined manner. The fact that the Fund has already invested in four high quality businesses prior to its final closing, is a testament to the strength of our investment platform and ability to execute our China-Plus strategy."
Eaton Partners LLC acted as the exclusive placement agent for the Fund. Dechert LLP provided legal counsel.