Blue Ridge to invest $1.45bn in China

Private equity firm Blue Ridge China has raised US$1.45 billion from individuals in the US and the Middle East to invest in Chinese start-ups, the Financial Times reported. The fund’s large size is being seen as a sign Asian markets’ increased attractiveness for private equity firms as credit concerns continue to influence markets in Europe and the US. Beijing-based Blue Ridge China, an affiliate of the US firm Blue Ridge Capital, has an investment period of five years and is expected to invest in retail, real estate, agricultural processing and other industries. Asia private equity buy-out volumes fell to US$209.6 million last month, but interest has returned with US$1.5 billion worth of deals announced this month.