BEIJING (XFN-ASIA) - International Business Machines and Lehman Brothers have tied up to create the China Investment Fund, with an initial capitalization of 180 mln usd, which will target mid-stage to mature public and private companies across several industries.
“With Lehman Brothers’ experience in investing, financial discipline and our track record combined with...(IBM’s) business and operational insights, we believe are highly complementary, truly will be unique, and should be an offering that companies in China would be interested in,” said Christopher Manning, managing director of Lehman Brothers Private Equity.
The partnership, which marks the first cooperation between the two companies, will bring together 90 mln usd and three support staff from each side to manage the fund.
Beyond funding, IBM and Lehman will also provide management and technology support to the companies in which they invest.
Manning said that Lehman Brothers currently has an investment group focused on China’s real estate market, a sector excluded from the China Investment Fund’s scope.