Published: June 3, 2010
Private equity firm to raise US$2bn.
A private equity fund in China is looking to raise an additional US$2bn in the next three years to invest in Africa.
The China-Africa Development Fund has launched its second fundraising phase to provide funds to develop infrastructure construction, agriculture, manufacturing and electricity projects in Africa.
The fund, which was established in 2007 with US$1bn from China Development Bank, finances Chinese firms that are already operating in Africa as well as providing financial advice to potential investors.