<article>Taiwan-based life insurance company China Life Insurance has committed $20 million to Blackstone&#8217;s eighth strategic partners fund, according to a report by PEI.</article>

Taiwan-based life insurance company China Life Insurance has committed $20 million to Blackstone&#8217;s eighth strategic partners fund, according to a report by PEI.
China Life is an existing LP in the fund&#8217;s predecessor, Strategic Partners Fund VII, and it had committed $10 million to the earlier vehicle.
The Strategic Partners funds are focused on secondaries in the private equity market. As of December 2018-end, the funds have raised over $34 billion of capital commitments, completed over 1,200 transactions and acquired over 3,500 limited partnership interests.
<a href="https://www.secondariesinvestor.com/blackstones-strategic-partners-seeks-8bn-for-fund-viii-exclusive/">According to Secondaries Investor</a>, Strategic Partners VIII is targeting to raise $8 billion. The seventh vehicle closed in January at $7.5 billion and was backed by US funds Pennsylvania Public Employee&#8217;s Retirement System and North Caroline State Treasury, who committed $250 million and $50 million respectively.
The Taiwanese life insurance firm is keen to diversify its fund commitments into the West. Other recent fund commitments made by China Life include $30 million into Carlyle Partners VII, $20 million into Thoma Bravo XIII, EUR 7 million into Bain Capital Europe Fund V and $10 million into Bain Capital Special Situations Europe.
Another Taiwanese firm, fabless semiconductor firm MediaTek Inc, through its subsidiary Gaintech Co Limited, has committed $12 million into PHI Fund, an automobile-focused venture capital and growth equity fund managed by Spain-based PHI Management.
Its investment in the $60-million Phi Fund is MediaTek’s sixth fund commitment since 2009. It first committed an undisclosed amount in Innovation Works Development Fund managed by Sinovation Ventures. In 2011, Mediatek committed $7.34 million in Walden International’s Rmb525-million ($78-million) fund, Shanghai Walden Venture Capital Enterprises.
Also read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/taiwans-mediatek-commits-12m-in-automobile-focused-phi-fund-122802/">Taiwan’s MediaTek commits $12m in automobile-focused PHI Fund</a>
<a style="color: #ff0000;" href="http://China Life Insurance invests $600m into ride-hailing app Didi Chuxing">China Life Insurance invests $600m into ride-hailing app Didi Chuxing</a>

China Life is an existing LP in the fund's predecssor, Strategic Partners Fund VII, to which it had committed $10 million.

Taiwan's China Life Insurance commits $20m to Blackstone's secondary vehicle

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Taiwan's China Life Insurance commits $20m to Blackstone's secondary vehicle

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief