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FILE PHOTO – The logo of the company China Renaissance Group is presented at a press conference on its IPO in Hong Kong, China on September 13, 2018. REUTERS / Bobby Yip
HONG KONG (Reuters) – Chinese bank China Renaissance has announced it has raised more than 6.5 billion yuan ($ 945 million) in its latest yuan-denominated fund, giving the company enough firepower to invest in the second largest economy in the world.
The firm, led by one of the country's most famous rainmakers, Bao Fan, said Monday in a statement that its private equity group, Huaxing Growth Capital, had raised its third fund. amount of more than 6.5 billion yuan, with an oversubscription of more than one billion.
The fund has attracted "keen interest" from investors, known as limited partners, such as the National Social Security Fund of China, banks, insurers, funds of funds and old-fashioned funds. students, he added.
(1 US dollar = 6.8791 Chinese yuan)
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