The private equity unit of Citic Securities is closing its dollar-denominated fund after having raised around $1 billion, Reuters reports. The CPEChina Fund obtained $990 million of committed capital from 39 overseas institutions, including sovereign wealth funds, pension funds, endowments and other financial institutions. The portfolio will focus on investments in Chinese companies and support their international acquisitions. The dollar-denominated portfolio of Citic Private Equity Fund Management, which was rolled out in 2008, was substantially over-subscribed.
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