CITIC Capital, the flagship investment arm of Chinese financial conglomerate CITIC Group, has plans to raise a new $2 billion fund, according to Reuters.
The new fund will actively look at making new investments in distressed assets in China, mainly in the real estate sector, Zhang YiChen told Reuters’ Global Markets Forum during the World Economic Forum in Davos, Switzerland.
The firm has plans to hold a close soon.
Zhang said CITIC Capital had not yet seen any impact of the stricter scrutiny of Chinese investments in the United States, but there could be more barriers in the future and the company is “mindful” of that.
