FILE PHOTO: CEO of Luckin Coffee Jenny Qian Zhiya (third R), non-executive chairman of Luckin Coffee Charles Zhengyao Lu, and David Li, co-founder and CEO of Luckin’s backer Centurium Capital have fun the primary commerce of the corporate’s inventory through the IPO on the Nasdaq Market website in New York, U.S., May 17, 2019. REUTERS/Brendan McDermid/File Photo
HONG KONG (Reuters) – China’s Centurium Capital, an enormous backer of home startup Luckin Coffee, stated it has raised greater than $2 billion in its debut fund, giving the private equity firm extra firepower to chop offers involving the world’s second-largest financial system.
The firm, co-founded by the previous head of Warburg Pincus Asia Pacific, David Li, stated in a press release on Wednesday that it raised the sum in U.S. dollars from buyers for Centurium Capital Partners 2018 L.P.
The fund has secured robust curiosity from international buyers, often known as restricted companions (LPs), corresponding to pension funds, sovereign wealth funds and funds-of-funds, it stated.
Investors in the fund embrace Singapore’s GIC Pte Ltd and Temasek Holdings, Canada’s Ontario Teachers’ Pension Plan, China Investment Corp (CIC) and U.S. pension fund Washington State Investment Board, stated two individuals with direct information of the matter.
Centurium declined to touch upon the fund’s LPs. All the buyers didn’t instantly reply to requests for remark.
The U.S. greenback fund will assist Centurium make investments in Chinese companies that use abroad buildings corresponding to variable-interest entities.
Reporting by Julie Zhu; Editing by Muralikumar Anantharamam