Source: Caijing Magazine

By staff reporter Zhang Yuzhe

Combining market principles with a desire to promote progress in Africa, the Beijing government's China Development Bank has patterned its huge China-Africa Development Fund after private equity funds.

China's recent US 3 billion injection into the U.S. private equity firm Blackstone Group may have attracted more media attention, but the Beijing government also turned heads by creating a huge, PE hybrid designed to accelerate development in Africa.

The China-Africa Development Fund was launched in June with an initial US 1 billion and a goal of expanding the pool to US 5 billion. Sponsored by the state but targeting private enterprise, the fund was formed with a unique structure that blends the practices of global PE firms and China's industrial development funds.

Full Story...

Posted by pichu at July 26, 2007 1:19 PM