Bahrain-based alternative asset manager Investcorp is aiming to raise 2 billion to 4 billion yuan ($274 million-$548 million) for its first private equity fund in the Chinese currency, its executive said, to explore buyout opportunities in the country. Investcorp plans to apply in the next few months for a license with Chinese regulatory bodies that will allow it to start raising funds from domestic institutions next year, Investcorp's co-chief executive officer Hazem Ben-Gacem said. Abu Dhabi sovereign investor Mubadala holds a 20% stake in Investcorp.
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