The first closing of the China Central and Eastern Europe Investment Co-operation Fund II with commitments totalling USD 800 million was announced today. The final closing at a target of USD 1 billion is expected by the end of the year.
The China-CEE Funds are initiatives undertaken as part of the 16+1 cooperation between China and Central and Eastern European countries. A second phase Fund was confirmed at the fifth 16+1 Summit in Riga in November 2016.
The China-CEE Fund II was created in November 2017 and completed its first closing on 22 February 2018 with commitments totalling USD 800m million from China Eximbank, Hungarian Eximbank, Silk Road Fund, and CEE Equity Partners Ltd.
The Fund is registered in Luxembourg as The China Central and Eastern Europe Investment Co-operation Fund II SCS SICAV-SIF. China-CEE Management S.à r.l.is acting in its capacity as its general partner. CEE Equity Partners Ltd. is the sole investment advisor to the Fund and will be responsible for sourcing investment opportunities in 16 countries of the CEE region.
The Fund has an investment strategy similar to that of first phase Fund, which has made 12 investments in the energy, education, healthcare, telecommunications and manufacturing sectors in the region.
The Fund seeks to foster further cooperation between China and the CEE region by identifying and partnering with dynamic businesses and together contributing to the vibrant growth of the CEE economies whilst providing solid returns to the investors.