<article>A unit of Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Hony%20Capital">Hony Capital</a> has received approval from the China Securities Regulatory Commission to operate a mutual fund business in the country, the AVCJ reported.</article>

A unit of Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Hony%20Capital">Hony Capital</a> has received approval from the China Securities Regulatory Commission to operate a mutual fund business in the country, the AVCJ reported.
Hony Capital, a pioneer in China&#8217;s home grown private equity industry, will distribute and manage mutual fund products through its wholly owned subsidiary <a href="https://www.dealstreetasia.com/?s=Hony%20Yuanfang">Hony Yuanfang Fund Management</a>.
The PE firm, backed by Legend Holdings, parent of personal computer maker Lenovo Group, has about $10 billion worth of assets under management.
Hony Capital puts China as its top market, with investments in over 100 companies in areas of pharmaceutical and healthcare, media and entertainment, consumer products, food and beverage, as well as machinery and equipment manufacturing.
Its portfolio companies include China Shijiazhuang Pharmaceutical Group (CSPC), Zoomlion, China International Marine Containers (CIMC), Suning, Chengtou Holding, Jin Jiang International Hotels, ENN, PizzaExpress (UK), STX(US) , WeWork (US) , ofo, COFCO Capital, etc.
In September 2017, Beyond Ventures, a new venture capital fund backed by China&#8217;s Hony Capital, announced plans to raise HK$1.2 billion (US$154 million) to invest in early-stage technology startups in Hong Kong.
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Chinese private equity firm Hony Capital has received approval from Chinese regulators to operate a mutual fund business in the country.

Hony Capital unit gets China mutual fund licence

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Hony Capital unit gets China mutual fund licence

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