China-focused private equity fund FountainVest Partners yesterday opened its doors in Shanghai from where it will focus on mainland investments. The firm already has an office in Hong Kong.
FountainVest was founded in December 2007 and recently closed a fund-raising of $1 billion with backing from investors including Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan, and Temasek Holdings, as well as other investors from Asia, Europe and North America. For many of these investors, FountainVest was the first China private equity fund they committed money to.
FountainVest set out to raise $750 million with a 10-year term, but upsized...
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