China-focused private equity firm Century Bridge Capital has closed its maiden real estate fund on $170m.
The firm, which exclusively targets middle-income residential real estate in China’s growing Tier II cities, received commitments from LPs including the Church Pension Fund, Metropolitan Real Estate Equity Management, Merseyside Pension Fund, Quilvest and Deutsche Finance Group.
Century Bridge CEO Tom Delatour said, “We are pleased with the success of our capital raise, especially in the context of a challenging fundraising environment, and we are delighted to be partnering with investors who recognize and appreciate the strength of our strategy.”
The firm believes the 300 to 400 million people expect to relocate to China’s cities in the next 15 years, providing a stable opportunity for middle class housing investment.
Avec Capital acted as a placement agent through its XT Capital Partners arm.
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