Chinese private equity firm China Science and Merchants (CSM) is raising a $1 billion fund for foreign investors, Financial News reports. As per the fund provisions, for the first time, international investors would be able to invest alongside CSM’s renminbi-denominated funds.

EME Capital has been hired as CSM’s placement agent. The firm has 10 offices across China and has more than $2 billion of assets under management with more than 100 investments.

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