China Everbright raises $100m for China opportunities

The Hong Kong and mainland China financial services business has closed on the first $100m for its incoming $250m real estate opportunity fund.

China Everbright, the Hong Kong based investment firm, has raised more than $100 million for a China-focused real estate fund aimed at taking advantage of “special situations” and “opportunistic structures”.

According to a report by the Wall Street Journal, The firm is targeting a final closing of $250 million for the vehicle which has been offered to institutional investors in Europe and Asia.

The fund will be managed by Everbright ALAM, a platform acquired by China Everbright and RQSI, a US management business, from failed Wall Street bank Lehman Brothers in October last year.

China Everbright, founded in 1997, is a financial services firm that operates in Hong Kong and mainland China. According to its website, the firm focuses on both short and long-term investments for both institutional and individual investors. It also offers financial advisory services in addition to managing private equity funds.