Reuters, 13 Nov 2008, George Chen
SHANGHAI, Nov 13 (Reuters) - FountainVest Partners, backed by Singapore's Temasek Holdings [TEM.UL], said on Thursday that it had raised nearly $1 billion for its first China-focused private equity fund despite the global financial market turmoil.
FountainVest, whose top management team includes four former senior Temasek executives, aims to complete 15 to 20 investments in China in the next four to five years, a statement said.
It will target investments between $50 million and $150 million for each deal and focus on emerging industry leaders who can benefit from China's transformation in terms of consumption, urbanisation and sustainable development.
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China-focused fund raises $1bn despite slowdown - Financial Times, 13 Nov 08
FountainVest opens shop in China - Asian Investor, 14 Nov 08
FountainVest commences operation in China - China Knowledge, 14 Nov 08
