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Singaporean PE firm partners with Chinese province to launch 1B yuan of funds

Tembusu Partners Pte Ltd. plans to launch a number of investment funds worth about 1 billion yuan in the aggregate, with former CapitaLand Ltd. CEO Lim Ming Yan appointed as chairman of its China advisory board to spearhead the initiative.

The investments will be made in light of the Singapore-based pan-Asian private equity investment firm securing the first Qualified Foreign LP status in China's Guizhou Province. The funds will be launched as an 80/20 joint venture between Tembusu and a Guizhou state-owned entity.

The funds to be launched will target technology, infrastructure, healthcare, tourism and impact-related projects in the mainland.

As of March 21, US$1 was equivalent to 6.70 yuan.