CGNPE raises CNY 3.2bn

Some of China’s largest institutional investors have committed to the fund.

CGN Capital Partners Infrastructure Fund III has held a second close at CNY 3.2 billion. The fund, which has a hard-cap of CNY 5 billion, invests in unlisted private equity infrastructure with a focus on renewable energy infrastructure assets in China. Sectors of interest are wind, power and solar.

The previous vehicle in the series gathered CNY 3 billion in February 2010, having originally targeted CNY 5 billion.

Investors in fund III include three of China’s largest banks, two of China’s largest asset management companies and one of its top three insurance companies.

Jida Capital Partners has partnered with CGNPE in this fund raise.