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Year Founded: 2002

AUM: $17B | Dry Powder: $1.6B

28/F, CITIC Tower, 1 Tim Mei Avenue, Central Hong Kong, Hong Kong

CITIC Capital is an alternative investment management and advisory company and is based in Hong Kong. The firm combines a deep knowledge of the Chinese business and financial markets with world-class investment expertise to create and maximize value for its investors

Key Contacts

  • Yichen Zhang

    Founder, Chief Executive Officer & Chairman

  • Eric Chan

    Chief Financial Officer & Senior Managing Director

  • Annie Fung

    COO & Senior Managing Director

Investment Preferences

  • Preferred Industries

    Beverages, Capital Markets/Institutions, Commercial Products, Commercial Services, Energy, Food Products, Software, Media, Retail, Transportation, etc.

  • Geographical Preference

    Asia, Europe, Middle East, North America

  • Preferred Deal Types

    Buyout/LBO, Convertible Debt, Debt – General, Early- Stage VC, Joint Venture, Later Stage VC, Mezzanine, PE Growth/Expansion, Recapitalization, Seed Round, Senior Debt, Subordinated Debt

  • Other Investment Preferences

    Prefers minority stake, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

CITIC Capital Pan Eurasia Fund
Vintage: 2020

Size: $75M

Dry Powder: $55.4M 

Details: The fund preferably invests in energy efficiency and renewables, food safety, logistics, transport sectors in Asia & Europe

CITIC Capital China Partners IV
Vintage: 2019

Size: $2.8B

Dry Powder: $597.8M

Details: The fund preferably focuses on business & consumer services, healthcare, IT in Mainland China

CITIC Capital China Partners III
Vintage: 2017

Size: $1.6B

Dry Powder: $232M

Details: The fund focuses on business & consumer services, IT, energy sectors, mainly in China

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In December 2022, JL Semi raised c.$100 million of Series C venture funding in a deal led by CITIC Capital and SummitView Capital. The financing will be used for JL Semi ‘s technology development. JL Semi is a developer of high-speed ethernet communication chips

In November 2022, Loscam entered into a definitive agreement to acquire a majority stake in CHEP China from Brambles Limited, via its financial sponsors CITIC Capital, FountainVest Partners, and Tasman Capital Partners for $132.2 million. Loscam would own an 80% stake in the combined entity, while Brambles would own the remaining stake. CHEP China is a provider of supply chain solutions

In June 2022, ShuGao Mechanical & Electric secured an undisclosed amount of Series B venture funding in a deal led by CITIC Capital. Hangzhou Dongfang Jiafu Asset Management and Redpoint China Ventures also participated in the round. ShuGao Mechanical & Electric is a provider of mechanical and electrical equipment and industry solutions

In March 2022, Putzmeister Holding acquired CPE Machinery via its financial sponsor CITIC Capital for an undisclosed amount. CPE Machinery supplies a wide range of specialist machinery intended for the pumping industry

In January 2022, AEssenseGrows secured an undisclosed amount of Series B venture funding in a deal led by Hambrecht Ventures. CITIC Capital also participated in the round. AEssenseGrows develops commercial hydroponic systems designed to fulfill the need for high growth yields for a growing population, food safety, and conservation of resources

In September 2021, Wanda Commercial Management, a provider of commercial operation and management services received $6 billion of development capital from PAG, Tencent Holdings, Ant Group, Country Garden Holdings Company and CITIC Capital

In August 2020, XNorthwest Hardwoods acquired a portfolio of four properties based in the UK for £260 million, via its financial sponsor CITIC Capital and Littlejohn & Co

In January 2020, a Shanghai-based environment company, SUS Environment backed by CITIC Private Equity announced that it is seeking energy-from-waste projects in Belt and Road countries, particularly in Southeast Asia

In May 2019, CITIC Capital invested in Cityneon Holdings. Cityneon, through its subsidiaries provides creative solutions in the area of interior architecture, events, exhibitions, and all manner of experiential environment through the actualization of creativity, production, execution, and delivery

Other Details

The firm manages over $17​ billion of capital. Its core businesses include Private Equity, Real Estate, Structured Investment and Finance, Special Situations, and ​Asset Management. The firm has 280 employees with offices in Hong Kong, Shanghai, Beijing, Shenzhen, Tokyo and New York.

CITIC Capital Partners’ latest open fund Trustar Growth Partners I has a target size of $500 million. The fund will invest in Later Stage VC, PE Growth/Expansion in China.

3i Group, Aavid Thermalloy, AEA Investors, Alibaba Group, AlpInvest Partners, Ancient Jade Capital Management, Baillie Gifford, BNP Paribas Développement, BPEA EQT, Boyu Capital, CDH Investments, Centurium Capital, Chengwei Capital, DT Capital Partners are some of the co-investors who invest alongside CITIC Capital Partners.

Source: Pitchbook, Company Website, Press Release