The vehicle had raised $1.2bn as at November and now Hopu plans to secure an additional $400m before the end of the second quarter, said Bloomberg, citing a person with knowledge of the matter.
Hopu’s new fund has made two deals since November, having invested in Yashili International and Global Logistic Properties.
The firm is managed by head of Goldman Sachs’ Chinese securities venture Fang Fenglei.
Last year it was reported that Hopu launched a new fund with a $2bn target.
The new vehicle follows Hopu’s $2.5bn first fund, which was raised in 2008 and was generating an IRR of 46 per cent at the end of 2012.
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