Hony Capital is seeking to raise as much as US$2.6 billion for a private equity fund, which would make it the largest-ever dollar-denominated fund administered by a China-based firm, Reuters reported, citing anonymous sources not authorized to speak to the media. The fund is Hony’s fifth dollar fund and could be nearly twice as large as its last US$1.4 billion fund which it started in 2008. CEO John Zhao had flagged money for the fund in June but did not say what it was for, according to the sources. Another source said the fund started in August. Hony Capital is a subsidiary of Legend Holdings, which owns computer maker Lenovo Group (0992.HKG) and has additional investments in the real estate sector.