AllBright Advises Development Fund in Guangdong2014-07-171948
Guangdong PICC Industry Development Fund for North, East & West Guangdong (Limited Partnership) was recently established. AllBright is serving as the Fund’s legal adviser. The first round funding for the fund is 12.1 billion RMB.
The fund is China’s first private equity fund between a provincial-level government finance platform and a central-level finance state-owned enterprise. The first phase investment target is to expand and upgrade projects in new and metropolitan areas in north, east and west Guangdong Province (including Zhaoqing City).
AllBright’s Beijing office partner Kevin Wang as well as associates Ren Pinting and Wang Shengnan formed a team to advise the fund on its structure, negotiating agreements and finalizing documents.