<article>CEL Global Investment Fund, L.P, a private equity fund sponsored and managed by <a style="color: #000080;" href="http://dealstreetasia.com/tag/china-everbright" target="_blank">China Everbright Ltd</a>, has achieved its first close with a total capital commitment of around $264 million.</article>

CEL Global Investment Fund, L.P, a private equity fund sponsored and managed by <a style="color: #000080;" href="http://dealstreetasia.com/tag/china-everbright" target="_blank">China Everbright Ltd</a>, has achieved its first close with a total capital commitment of around $264 million.
&#8220;The Fund will primarily invest in equities and equity-linked securities of companies established in North America and Europe,&#8221; the company said in a release. &#8220;The investment targets will have a proven operational track record and a sound business model with strong growth in the market in China and make products or provide solutions which may have significant growth potential in China.&#8221;
CEL Global Investment GP Ltd and CEL Global Management Company Ltd, both of whom are wholly owned subsidiaries of CEL, serve as the general partner and the investment manager of the fund, respectively.
The fund aims to focus on industries important to China&#8217;s economic transformation, including advanced manufacturing, agricultural technologies, clean energy, environmental and resources management, TMT (technology, media and telecommunications), wealth protection and healthcare.
&#8220;In recent years CEL has pursued an active overseas growth strategy and has focused in particular on international restructuring opportunities by implementing international asset allocations,&#8221; says Chen Shuang, executive director and chief executive officer of CEL, the overseas financial platform of China Everbright Group Ltd.
&#8220;The fund will continue to take advantage of these opportunities in the global markets, particularly in developed markets in Europe and North America. The fund plans to connect these portfolio companies with strong market demands in the Greater China region arising from industrial upgrade and market specialization,&#8221; he added.
The fund has already invested in <a style="color: #000080;" href="http://www.bepco.com/" target="_blank">Burke E. Porter Machinery Co</a>, a U.S. automobile end-of-line testing systems provider, with plans to bring their products to China.
Last month, China Everbright, and <a style="color: #000080;" href="http://dealstreetasia.com/tag/idg-capital" target="_blank">IDG Capital Partners</a>  jointly launched China’s largest M&amp;A fund with total committed capital of RMB 20 billion ($3 billion). The fund has hit first close with half of the target amount raised. CEL has committed RMB2 billion and and other institutional investors put in RMB8 billion.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/46350-46350/" target="_blank">China Everbright, IDG Capital Partners team up for $3b M&amp;A fund</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/china-everbright-commits-additional-15m-for-haiyin-capitals-fund-36576/" target="_blank">China Everbright commits additional $15m for Haiyin Capital’s fund</a>
<div></div>

CEL Global Investment Fund, L.P, a private equity fund sponsored by China Everbright Ltd, has achieved its first close.

China Everbright-backed CEL Global Investment Fund hits first close at $264m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

China Everbright-backed CEL Global Investment Fund hits first close at $264m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief