Investcorp, the Middle East’s largest alternative asset management firm, and the private equity arm of the Fung brothers’ family office are setting up a $500 million fund to invest in mid-cap companies across China’s Greater Bay Area.
The fund will mainly focus on buyouts of firms in or close to the region that spans the Chinese cities of Hong Kong and Macau. Although it won’t be sector-specific, the fund will invest in companies “with proven profitability and strong growth potential,” Bahrain-based Investcorp said in a statement.
Investcorp and Fung Capital, which is controlled by Victor Fung and William Fung, join HSBC Holdings Plc in starting funds to tap growth in the region of 70 million people that also encompasses cities such as Guangzhou and Shenzhen. HSBC has so far launched three Greater Bay focused funds for sustainable lending, tech and health-care.
Read more: BNN Bloomberg
