China Ping An Insurance Overseas (Holdings) Ltd., along with its subsidiaries, raised a combined US$750 million for Ping An Global Equity Selection Fund II and Ping An GP Opportunities Fund.
The vintage funds within Goldman Sachs Asset Management LP, Montana Capital Partners AG and Ardian anchored the global investors in the two funds, with China Ping An and its subsidiaries as a limited partner.
Selection Fund II operates a private equity program that Ping An invested in a diversified portfolio of buyout managers in North America and Europe and was transferred as part of a secondary deal. The GP Opportunities Fund is designed to capture the coinvestment and secondary investment opportunities sourced from the general partner network of China Ping An and its subsidiary group.
The two funds will be used for overseas private equity investing.
China Ping An Insurance Overseas is the main offshore investment and asset management platform of Chinese insurer Ping An Insurance (Group) Co. of China Ltd.