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China Investment, BNP Paribas, Eurazeo form up to €1.5B fund

Chinese sovereign wealth fund China Investment Corp. and France-based BNP Paribas SA and Eurazeo SE have partnered to set up a €1 billion to €1.5 billion fund targeting French and European companies looking to expand into China.

The partners will each invest in the fund and Eurazeo will be responsible to choosing and managing the investments, according to a March 25 release.

Eurazeo has been operating in China since 2013.

The announcement coincides with Chinese President Xi Jinping's state visit in Paris, where he clinched deals between France and China worth billions of euros.