Pacific Alliance en route with $2bn China funds

The alternative asset manager will be in fundraising mode this year for two new China-focused vehicles.

Hong Kong-based Pacific Alliance Group is planning to launch two new funds totaling $2 billion (€1.3 billion) to invest in Chinese companies and real estate, Reuters reported today.

Pacific Alliance co-founder and managing partner Chris Gradel said in an interview the firm planned to raise about $1 billion for a private equity fund to invest alongside its $750 million ARC Capital Holdings, listed on London’s AIM.

The firm is also planning to raise another $1 billion fund to invest alongside its $400 million Pacific Alliance China Land fund, which focus on acquiring incomplete and completed buildings, co-investing with leading developers and taking pre-IPO stakes in emerging developers. The fund was listed on AIM in November 2007.

Gradel said fundraising could begin later this year.

Elsewhere in Asia, Pacific Alliance has a $633 million dedicated Vietnam real estate fund through its subsidiary, VinaCapital, as well as an AIM-listed closed-end Vietnam infrastructure fund, also managed by VinaCapital.