China’s Citic Private Equity Funds Management (Citic PE) has launched a $773 million mezzanine fund, Reuters reports. The new fund will offer finance for acquisitions, resources and property companies.

Real estate developer Zhonghong Real Estate is planning to invest $15.45 million in the fund. The private equity unit of Citic Securities currently handles a $1.39 billion yuan-currency fund and a $1 billion dollar-denominated fund.

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