HONG KONG : Warburg Pincus is raising 3 billion yuan ($439 million) in its maiden yuan-denominated fund, two people with knowledge of the matter said, joining a growing list of private equity investors eyeing local currency investment opportunities in China.China's regulatory crackdown on private enterpri
HONG KONG : Warburg Pincus is raising 3 billion yuan in its maiden yuan-denominated fund, two people with knowledge of the matter said, joining a growing list of private equity investors eyeing local currency investment opportunities in China.
The U.S. private equity firm plans to primarily focus on the healthcare and industrial technology sectors in China with the yuan fund, one of the people said.Warburg declined to comment. "RMB funds are relatively independent and self-sustainable," he said."The bigger reason is geopolitics. Chinese companies welcome RMB funds to invest, especially in sectors such as semiconductor, high technology and national security."
Fundraising in yuan, however, has its own challenges because it can be costly and require a different set of skills from fund managers who are more used to dealing with U.S. dollar investors, lawyers and investors said.
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