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BEIJING, June 28 - China-focused private equity fund Rong Qin plans to raise more than 5 billion yuan ($736 million) in the next two years to invest in companies undergoing technology upgrades and the commercial property sector.
The Beijing-based fund, which manages 3 billion yuan in five funds, would focus on companies in new energy, agricultural, new material, education and health care sectors, Joel Sun, a partner at Rong Qin, told Reuters in an interview.
"We are not bullish about manufacturers or sectors with high levels of pollution, low energy efficiency and high labour intensity," Sun said.
Investment in China's private equity market was expected to exceed 200 billion yuan by 2015, according to a McKinsey report.
Rong Qin, which started its China business in 2003, was also looking for opportunities in commercial property and real estate funds, Sun said.
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