Chinese asset manager CDH Investments has raised RMB 3.5 billion ($525 million; €465 million) for its mezzanine-focused debt investment fund, according to local media reports.
Notable investors to the fund are the institutions Peking University and Zhejiang University, as well as the insurance group Huatai Insurance and the PICC.
The firm’s mezzanine and credit team was established in 2011, specialising in providing high-yield debt solutions through a number of instruments, including convertible bonds and subordinated debt. The firm has worked with borrowers in the energy and real estate sector. It also provides debt financing toward M&A activities. The team has managed more than $640 million of assets since its inception, according to the firm’s website.
It is led by Hu Ning, who joined the firm in 2011 after spending five years as the executive director of property investment at the insurance company Ping An. “CDH Mezzanine Fund IV has fully integrated the needs of domestic investors in its structural design,” Ning said, according to the China Money Network.
A representative from CDH Investments did not respond to a request for further comment ahead of press time.