Taiwanese conglomerate Cathay Financial Holdings’ insurance unit, Cathay Life Insurance, has agreed to commit $50 million to US-based Clayton, Dubilier & Rice’s (CD&R) latest buyout fund, according to filings with the stock exchange of Taiwan.
Aside from CD&R, Fund XI’s limited partners (LPs) include private investors, venture capital firms, and other investment vehicles. The California Public Employees’ Retirement System has committed $500 million to the fund, while the South Carolina Retirement System Investment Commission has pledged $75 million.
