China ESG - Weekly news update April 2020 / 01

Shanghai woos foreign firms with new English fund industry guidebook

Shanghai’s finance and regulatory authorities have launched their first English guidebook to the investment management industry in the city, as part of concerted efforts to attract more foreign asset management companies to China’s largest financial hub.

The Asset Management Association of China and the Shanghai Asset Management Association released the guidebook on Tuesday, ahead of China’s removal of foreign ownership caps in the domestic mutual fund and securities industries starting today. The guidebook also provides clarity on regulations and developments in the industry. ( Email to receive a copy of the guidebook)

Following that, Fidelity, BlackRock, Neuberger tipped to be first to file for new China units (source from igniteAsia)

Chinese PE firm Gaocheng Capital closes debut fund at over $300m

Gaocheng Capital, a growth stage-focused private equity firm headquartered in Beijing, has hit the final close of its debut fund at over $300 million, according to a company announcement. The final close came a week after DealStreetAsia reported that the firm raised $235.1 million for the second close of its debut fund – Gaocheng Fund I LP. The fund first raised over $100 million in January 2019. Fund attracted commitments from institutional investors, including university endowment funds, charitable funds, sovereign wealth funds, pension funds, and insurance companies around the world, the company said.

The firm is also one of the first private equity investment funds in China to sign the principle of responsible investment of the United Nations and implement the ESG investment philosophy. (source from DealStreetAsia)