The latest offerings in investments, such as funds and structured products, and other notable developments.

China-based Legend Capital, working alongside investment houses Hamilton Lane and Coller Capital, has closed LC Healthcare Continued Fund I, LP, having raised $270 million. The money was raised for a secondary transaction that involves healthcare portfolios of two older vintage funds. 

The fund provides liquidity and helped to enhance returns for existing investors while maximising the value of the fund’s portfolio with new follow-on capital, Legend Capital said in a statement yesterday. 

The deal was co-led by accounts managed by Hamilton Lane and Coller Capital, with participation from other institutional investors. Lazard was the sole financial advisor and Gibson Dunn acted as the legal counsel for Legend Capital, while Ropes & Gray acts as the legal counsel for Hamilton Lane and Coller Capital.

Legend Capital, founded in April 2001, is part of Legend Holdings. Legend Capital manages dollar-denominated funds and renminbi-based funds with a total size of $9 billion, and focuses on innovation and growth enterprises with operations in China or related to China.

“The deal, which was completed in an efficient process, helps enhance liquidity of existing fund investors, and also demonstrates the confidence of secondary investors in the quality and growth potential of our portfolio assets as well as our post-investment management capabilities,” Jafar Wang, co-chief investment officer, Legend Capital, said. “The fund allows longer runway for our portfolio companies, where we can support them to grow into industry leaders and assist them in accessing the public markets. Legend Capital has a long-term focus on investment into highly innovative and fast growth companies, contributing to the development of China’s healthcare sector.”

Legend Capital’s healthcare practice started in 2007. To date, it has deployed $1.7 billion in healthcare investments.