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China Everbright's private equity fund receives US$294M in capital commitment

China Everbright Ltd. private equity fund CEL Global Investment Fund LP completed its second closing with an accumulative capital commitment of around US$294 million.

The private equity fund completed its first closing with a capital commitment of US$264 million in August 2016 and is expected to make its final closing in 2017 with a target size of US$500 million. The fund is currently in talks with professional investors and financial institutions.

The fund will primarily invest in equities and equity-linked securities of companies in North America and Europe, according to a Jan. 25 release. The fund will focus on industries that contribute to economic transformation and sustainable development in China.