Tano and Darby join to establish new China fund

Tano Capital, a US private equity firm which focuses on China and India, is forming a joint venture with Darby Overseas Investments and Tianjin Port Tariff-Free Zone Investments, a local government-linked.

Tano Capital China and Darby Overseas Investments, the private equity arm of Franklin Templeton, have partnered Tianjin Port Tariff-Free Zone Investments, a local city government-linked entity to form a private equity joint venture.

The three-way partnership will establish JJR Equity Fund Management in Tianjin according to a statement which did not indicate the fund’s size.

Dai Xianglong, Tianjin city mayor, said he wanted investment companies to “actively participate in Tianjin’s infrastructure and industrial projects and to further contribute to the opening and development of Binhai.”

Liu Chijen, managing director of Tano China said: “Our goal is to build a large investment and private equity platform to serve and facilitate the rapid development of Tianjin City.”

Government efforts to develop Tianjin’s Binhai district into an industrial park led to the establishment last year of a 20 billion yuan ($2.7 billion; €1.9 billion) fund – Binhai Industrial Development Fund.