控股型并购再添“干火药”！信宸资本新基金募资超45亿元

Core Viewpoint - The merger and acquisition (M&A) funds are becoming a key driver in China's private equity investment ecosystem, with the strategic value of RMB-controlled M&A funds increasingly highlighted [1][2][3] Group 1: Fundraising and Strategy - Xincheng Capital announced the completion of its latest RMB M&A fund, raising over 4.5 billion RMB, bringing total assets under management to 95.9 billion USD [1] - The new fund will focus on four key sectors: consumer goods and services, healthcare, business services, and technology, continuing the core strategy of controlling M&A [1][2] - The fund has attracted diverse investors, with over 70% of contributions coming from insurance capital, indicating strong market confidence [2] Group 2: Market Context and Opportunities - The successful fundraising occurs against a backdrop of increasing M&A activity in China, supported by government policies that create a favorable environment for private equity investments [3][4] - The fund aims to leverage the advantages of the Yangtze River Delta industrial cluster to enhance the integration of capital and industry [2][3] Group 3: Investment Approach and Exit Strategies - Xincheng Capital employs a dual-curve strategy for its M&A fund, focusing on both cash flow generation from mature targets and strategic exits during favorable market conditions [4][5] - The firm does not rely solely on IPOs for exits but also considers overall sales, dividends, and refinancing as viable options for capital recovery [3][4] Group 4: Track Record and Future Plans - Xincheng Capital has completed over 100 investments globally, including notable cases like McDonald's China and Gree Electric, showcasing its extensive industry experience [2][4] - The firm plans to enhance its asset pool by improving governance and management of acquired companies, preparing them for strategic M&A opportunities in the A-share market [5]