Blue Ridge raises $1.45 billion for private equity in China
Posted by: in Private Industry NewsFiled under: Private equity industry, Investments
Just when you think private equity is dead, large news break. Reuters has reported that private equity firm Blue Ridge has just raised $1.45 billion for a new private equity fund to invest in Chinese companies. This follows most of its 2006 fund of $300 million being mostly committed.
The Chinese have already taken steps to cool red hot growth in China, but apparently some can still find value there when others might not be able to take advantage of the situation. When you see the U.S. banks and many of the European banks in more and more trouble and with write-downs growing, it is no surprise that newer and previously less-known funds might get their chance to rise. Blue Ridge doesn’t have to worry about answering endless questions on things like CDO’s, mortgages, credit woes, and the like.
The target sectors are energy, retail, real estate, technology and consumer products. Reuters put the time frame for this fund at five years, which is actually rather short for many “CHINDIA” funds that had been stating 10-year horizons for China and India in the not so distant past. Maybe that’s just the new investment climate for you.
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