DCL Investments raises $466m

The Beijing-based investment firm closes its fourth yuan-denominated distressed fund.

Fund name: DCL Investments Special Situations RMB Fund IV
Fund size: 3 billion yuan
Stage of fundraising: First close
Predecessor fund: DCL Investments Special Situations RMB Fund III (3 billion yuan)

DCL Investments announced its first close on DCL Investments Special Situations RMB Fund IV on 3 billion yuan ($466 million; €382 million). Capital raised for the fund will invest in distressed assets in China.