Chinese private equity firm Boyu Capital is reportedly targeting up to $6bn for what would be its biggest-ever fundraise by some margin.

The fund is “likely to close in the near term” according to a report from Reuters, which cited three unnamed sources it said had knowledge of the matter.Reaching $6bn for the US-denominated investment vehicle would see it massively eclipse the $3.6bn Fund IV it raised two years ago.

Boyu targets investments across the media and tech, healthcare, financial services, consumer and retail sectors.

It had been banking on big returns from the $315bn-valued public listing of portfolio business Ant Group, but the company suspended the listing last November.

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Source: Alt Assets