Home GCC Bahrain Investcorp, Fung Capital to start $500m Greater Bay fund The fund will mainly focus on buyouts of firms in or close to the region that spans the Chinese cities of Hong Kong and Macau by Bloomberg November 3, 2022 Investcorp, the Middle East’s largest alternative asset management firm, and the private equity arm of the Fung brothers’ family office are setting up a $500m fund to invest in mid-cap companies across China’s Greater Bay Area. The fund will mainly focus on buyouts of firms in or close to the region that spans the Chinese cities of Hong Kong and Macau. Although it won’t be sector-specific, the fund will invest in companies “with proven profitability and strong growth potential,” Bahrain-based Investcorp said in a statement. The Greater Bay Area’s role “as one of the main economic engines of China has never been more important as the country looks to rebalance its economy,” Investcorp’s executive chairman Mohammed Alardhi said in the statement. Investcorp and Fung Capital, which is controlled by Victor Fung and William Fung, join HSBC Holdings in starting funds to tap growth in the region of 70 million people that also encompasses cities such as Guangzhou and Shenzhen. HSBC has so far launched three Greater Bay focused funds for sustainable lending, tech and health-care. Speaking in an interview with Bloomberg TV on Tuesday, Alardhi said that the fundamentals of China “continue to be great” and that he expects to see “a very active China again” once country eases Covid-19 curbs. Tags fund Fung Capital HSBC Investcorp Private Equity 0 Comments You might also like Polus Capital Management secures ADIA investment Private equity finds stability but momentum remains elusive, shows report Investment firm Ardian raises $3.2bn for sixth co-investment fund HSBC chooses UAE to debut its global trading platform