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Alternative Market Briefing

China's Ping An raises $750m for overseas private equity investing
Tuesday, October 26, 2021

Laxman Pai, Opalesque Asia:

China Ping An Insurance Overseas Holdings, the main offshore investment and asset management platform of Ping An Insurance Company, announced that it has raised $750 million in total for two funds for overseas private equity investments.

The two funds - Ping An Global Equity Selection Fund II and Ping An GP Opportunities Fund - combined received a total capital commitment of USD 750 million from a group of global investors.

The unit of Ping An Insurance Group secured capital commitments from a group of global investors, including Goldman Sachs Asset Management's Vintage Funds, Montana Capital Partners, and Ardian.

Hoi Tung, Chairman, and CEO of Ping An Overseas Holdings said: "We are grateful to have the backing of our existing limited partners, Montana Capital Partners, and Ardian, and welcome the support and trust of Goldman Sachs. The successful closing of the Selection Fund II and the GP Opportunities Fund further advances our mission to provide diversified investment opportunities with compelling risk-adjusted returns to our third-party investing partners."

The Selection Fund II operates a private equity program that was invested by Ping An into a well-diversified portfolio of top-tier buyout managers in North America and Europe and was transferred as part of a secondary transaction. The GP Opportunities Fund is set up to capture the co-investment and secondary investment opportunities sourced from Ping An Overseas Holdings......................

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