The fund has become the second largest shareholder in Zhejiang Wanna Environment Protection, a company that has eight waste incineration power plants and projects, after buying a $100m stake in the business, according to Dow Jones Newswires.
A second investment is understood to have been made in a Shenyang-based water supply project, in line with the fund’s mandate to invest primarily in the toll road, airport, renewable energy, waste-water management, and port and rail sectors, the report said.
The Greater China Infrastructure Fund, which was set up to buy minority stakes and control positions of $50m or more in Chinese businesses, raised $729m last year and is in the process of raising its second tranche of capital, the report added.
The fund has equal commitments from China Everbright and Macquarie, as well as money from investors in Europe, North America and Asia, including Dutch pension asset manager PGGM NV and the Korean Teachers’ Credit Union.
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