Chinese private equity group Hony Capital is looking to raise as much as $2.6bn for its latest buy-out fund, the largest ever dollar-denominated vehicle for a China-based firm.
According to Reuters, the firm’s fifth dollar-denominated fund, which launched in August this year, is almost double the size of its predecessor which closed three years ago on $1.4bn.
Hony Capital is the private equity division of Chinese investment giant Legend Holdings. The firm’s venture capital arm, Legend Capital, recently led a $30m Series B financing round for global social gaming developer Happy Elements.
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