OCBC launches US$100m China PE fund

OVERSEA-Chinese Banking Corp (OCBC) has set up a qualified private equity fund to invest in onshore China companies, potentially allowing the bank to raise an onshore renminbi fund.

The US$100 million fund was created under the Shanghai Qualified Foreign Limited Partner (QFLP) programme, which allows the fund to convert up to US$100 million of foreign currency into renminbi and invest that renminbi onshore in domestic Chinese companies over the next five years.

To manage the fund, OCBC has established a fund manager, OCBC Capital (Shanghai) Equity In…