Chinaâ€™s homegrown private-equity firms are looking for money overseas, in part to diversify their investor base and expand their brands abroad. Moreover, raising money domestically has become tougher amid a slowing economy.
or all but the biggest names, however, winning over Western investors hasnâ€™t been easy.
Hao Wu, chief executive of Sino-Century China Private Equity Partners, said the process for Chinese money managers to get overseas money can be â€śvery longâ€ť because Western investors arenâ€™t familiar with local names.
â€śWeâ€™re not like KKR KKR -4.35%, Carlyle, TPG, Blackstone, who are household names,â€ť he said. Shanghai-based Sino-Century started raising a $350 million fund last year, and expects to close it in the first quarter next year.
Domestic-based private-equity fund managers raised about $12 billion in dollar-denominated funds in 2011 aimed at Chinese investments, according to data by research firm Preqin. forex
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