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Social Security Fund to Invest in PE

04-20 13:24 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-04-19/110149465.html

» Dai Xianglong, who oversees China’s 563 billion yuan social security fund, said the fund will invest in three to five private equity firms.

» Through these PE firms, Dai seeks to funnel social security money to small- and medium-sized enterprises, in an effort to shift China from a manufacturing-based to a service-based economy.

» No more than 10 percent, or 50 billion yuan, of the social security funds can be invested in equities.

» The fund invested 2 billion yuan in two yuan-denominated PE funds in 2008.

» The social security fund is one of the few institutional investors that can invest in private equity.


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