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| A Further Step to Overseas Investment |
HONG KONG, Aug 17, 2016 - (ACN Newswire) - CEL Global Investment Fund, L.P. ("Fund"), a private equity fund sponsored and managed by China Everbright Limited ("CEL", stock code: 165.HK), was established and completed its first closing in the second quarter of 2016 with a total capital commitment of approximately US$264 million. CEL Global Investment GP Limited and CEL Global Management Company Limited, each an indirect wholly owned subsidiary of CEL, serve as the general partner and the investment manager of the Fund, respectively.
The Fund will primarily invest in equities and equity-linked securities of companies established in North America and Europe. The investment targets will generally have proven operational track record and a sound business model with strong growth in the market in China and make products or provide solutions which may have significant growth potential in China. The Fund expects to focus on industries which are important to the economic transformation and sustainable development of China, including without limitation advanced manufacturing, advanced transportation equipment, advanced agricultural products and technologies, consumer products, clean energy, environmental and resources management, technology, media and telecommunications, wealth protection and healthcare.
Mr. Chen Shuang, executive director and chief executive officer of CEL, said, "In recent years CEL has pursued an active overseas growth strategy and has focused in particular on international restructuring opportunities by implementing international asset allocations. We have accumulated considerable market intelligence, practical experience and investment pipelines. The Fund will continue to take advantage of these opportunities in the global markets, particularly in developed markets in Europe and North America. The Fund plans to connect these portfolio companies with strong market demands in the Greater China region arising from industrial upgrade and market specialization. The Fund is expected to provide its investors with great exposures to cross-border investment, mergers and acquisitions and enhanced asset allocation and diversification opportunities and to generate investment returns for its investors."
The US-based Burke E. Porter Machinery Company is the current portfolio investment of the Fund. It is a leading provider of intelligent manufacturing equipment and solutions. The company is a global leader in the automobile end-of-line testing systems market and has successfully entered into new business areas such as powertrain, balancing systems, build-to-print, life sciences equipment, 3D printing equipment and others.
Ms. Shengyan Fan, Head and Managing Director of CEL's Merger & Acquisition department and a director of the general partner of the Fund, said, "The Fund will proactively seek for premier investment opportunities in overseas enterprises and on multiple aspects provide support to the portfolio companies' growth after our investment. In particular, the Fund will help the portfolio companies bring their products and technologies to China and capitalize on the vast opportunities in the Chinese markets. We aim at creating and enhancing the value of portfolio companies through active post-investment management to eventually generate investment returns for the Fund's investors."
The Fund is available only for investment by professional investors (as defined under the Securities and Futures Ordinance).
About China Everbright Limited
China Everbright Limited ("CEL", stock code: 165.HK) is the largest overseas financial platform of China Everbright Group Ltd. ("Everbright Group"). It is the second largest shareholder of Everbright Securities (stock code: 601788.SH) and a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK) the controlling shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK) and the second largest shareholder of the Singapore-listed Ying Li International Real Estate Limited (stock code: 5DM. SGX). As at end-2015, CEL managed 31 funds with AUM of more than HK$49 billion. Everbright Group, the parent company of CEL, is a state-owned financial conglomerate with AUM of approximately RMB3,000 billion as at end-2015. For more information about CEL, please visit www.everbright165.com.
For enquiries, please contact:
Golin
Jackie Cheung
Tel: +852 2501 7901
Email: jcheung@golin.com
Max Lau
Tel: +852 2501 7905
Email: mlau@golin.com
Topic: Press release summary
Source: China Everbright Ltd
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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