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Ping An To Launch First US Dollar PE Fund - Report

Vanessa Doctor

29 September 2009

Ping An Securities is set to launch its first US dollar-denominated private equity fund, according to a report by The Wall Street Journal.

According to sources cited by the news service, the mainland China fund is looking to invest in Chinese growth companies that are likely to list over the next three years. People close to the matter also told the publication that the company has been approaching foreign investors based in Asia and the US, in a bid to raise between $200 million and $400 million.

Ping An is the securities subsidiary of Chinese insurance giant Ping An Insurance Group Co.