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Bond Market News
China Regulator Launches Pilot Programme for PE Funds to Invest in Real Estate Projects
February 22, 2023
The China Securities Regulatory Commission (CSRC) announced the launch of a pilot programme where fixed-asset PE funds can invest in residential/commercial real estate and infrastructure projects in China. Here, foreign investors are also allowed to participate in such related funds. As per SCMP, this would help diversify funding channels for highly levered developers and is a positive update for some developers to address distressed assets. CSRC requires that the PE funds be mainly led by institutional investors the first-round investment would be no less than RMB 10mn ($1.46mn), and the first fund with a size of at least RMB 30mn ($4.4mn). This policy comes in addition to the equity financing support that Beijing is tapping on to support property developers.
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