Sino-European private equity firm Mandarin Capital Partners intends to roll out a €1 billion fund in 2012, Reuters reports. The new fund will cater to increasing demand by Chinese firms to buy assets abroad.

In addition to its existing focus on companies based in Italy and China, the fund will start looking at firms located in the U.S and other European countries as well. The fund will establish offices in Germany and Boston and will focus on industries such as fashion, pharmaceutical, fine-chemistry and oil and gas equipment.

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