China Everbright closes on $450m for overseas infrastructure fund
Fundraising - AUGUST 30, 2019

China Everbright closes on $450m for overseas infrastructure fund

by Kali Persall

Hong Kong–based China Everbright has raised $450 million for its debut Overseas Infrastructure Investment Fund.

The organization could not be reached to comment on its fundraising efforts.

The fund completed its first close in July 2017 with $300 million in capital commitments, according to an Everbright news release. At that time, the fund was targeting $1 billion and said it was in talks with a number of professional investors and financial institutions.

It completed a second closing in September 2017 with an additional $100 million from a wholly owned subsidiary of China Life Insurance Co., according to Everbright.

In April, it lowered its fundraising target to $600 million and possibly again afterward, as it now says the money it raised brings the fund to the “right size.”

The fund expects to invest in targets that focus on transportation, telecommunication, renewable energy, car parking and other social infrastructure, oil and gas pipeline and storage, as well as utilities sectors, according to the company.

As of June, Everbright had 64 funds with HK$145.4 billion in assets under management. It invests in various areas with high growth, including real estate, healthcare, elderly care, aircraft leasing, infrastructure, high-end manufacturing, high-end technology, culture and consumption, with investment projects around the globe.

Everbright is the only listed company in China with alternative asset management as its core business.

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