China’s National Social Security Fund (NSSF) confirmed that it has been cleared by the government to begin investing in domestic private equity funds, the Wall Street Journal reported. The NSSF will now be allowed to invest as much as 10% of its assets, accounting for US$7.5 billion, in government-backed industrial investment funds as well as market-based private equity funds. It is considering making its first investments in renminbi-denominated funds operated by CDH Investments and Hony Capital, according to people familiar with the situation.
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