Chinese private equity funds are targeting record fundraising this year as global investors boost their exposure to the country despite US tensions and heightened regulatory scrutiny of its technology groups.
A group of fast growing Chinese investment funds, which include Boyu Capital and Primavera Capital Group, have launched what are expected to be their largest ever US dollar funds in recent weeks.
Boyu, which is co-led by the grandson of former Chinese president Jiang Zemin, is targeting a new $6bn fund, according to several people close to the plans. Primavera, run by Fred Hu, the former chair for greater China at Goldman Sachs, is raising a new fund of up to $5bn, two people close to the group said.