China’s largest real estate services firm raises $100m

E-House has held a first close on its first real estate opportunities fund, targeting opportunities across China.

Chinese real estate services company E-House Holdings has held an initial closing on a new real estate investment fund named E-House China Real Estate Investment Fund I, with initial commitments of $100 million (€68 million).

The fund's investors include global institutional investors and high net worth individuals, and two of its directors have also invested a total of $28 million in the Fund. E-House itself has no investment in the Fund.

The firm, which according to its web site is now the largest real estate agency and consulting services company in China with a presence in more than 30 cities, was founded in 2000 and its primary business is providing real estate agency services, secondary real estate brokerage services and real estate consulting and information services to mainland Chinese real estate developers.

The Fund will be managed by E-House's non-wholly owned subsidiary, E-House Real Estate Asset Management Limited, a Cayman Islands company. The firm said it will leveraging E-House's knowledge of the Chinese real estate industry, including its proprietary CRIC database and research capabilities, to invest in China's real estate sector through diversified investment strategies.

E-House chairman and CEO Xin Zhou said the fund “will have a unique competitive advantage through its access to E-House's in-depth knowledge and broad information channel in China's real estate industry, which enables us to better analyze and capture potential market opportunities.”