China Merchants Capital
{{Short description|Chinese alternative investment firm}}
{{Use dmy dates|date=January 2024}}
{{Infobox company
| name = China Merchants Capital Management Co., Ltd.
| native_name = 招商局资本投资有限责任公司.
| former_name =
| logo = China Merchants Capital.png
| type = Joint venture
| industry = Investment management
| predecessor =
| foundation = {{start date and age|df=y|2012|}}
| location = Shenzhen, Guangdong, China
Hong Kong
| founders =
| key_people = Vincent Peng (Chairman)
Jian Guo (CEO)
| products = Private equity
Venture Capital
Fund of funds
Real estate
| aum = US$43 billion (January 2023)
| owners = China Merchants Group (50%)
GLP (50%)
| num_employees = 260 (2020)
| homepage = {{URL|www.cmcapital.com.cn}}
| footnotes =
}}
China Merchants Capital (CMC) ({{Zh|c=招商局资本|p=Zhāoshāngjú Zīběn|s=}}) is a Chinese alternative investment firm founded in 2012 that is headquartered in Shenzhen and Hong Kong. It is currently a joint venture (JV) between China Merchants Group (CMG) and GLP.
In June 2021, Private Equity International ranked CMC as the largest private equity firm in Asia-Pacific based on total fundraising over the most recent five-year period.{{Cite web |last=Lynn |first=Alex |date=1 June 2021 |title=PEI 300 2021: China's one-stop shops |url=https://www.privateequityinternational.com/pei-300-chinas-one-stop-shops/ |access-date=20 January 2024 |website=Private Equity International |language=en-GB}}
In June 2024, China Merchants Capital ranked 48th in Private Equity International's PEI 300 ranking among the world's largest private equity firms.{{Cite web |title=2024 PEI 300 by Private Equity International - Infogram |url=https://infogram.com/2024-pei-300-1h7v4pddjjm8j4k |access-date=2025-03-19 |website=infogram.com |language=en}}
Background
CMC was originally the investment arm of CMG before being officially launched as a fully-fledged private equity manager in 2012.{{Cite web |last=Lynn |first=Alex |date=12 November 2020 |title=China Merchants Capital: The largest PE firm you've never heard of |url=https://www.privateequityinternational.com/china-merchants-capital-the-largest-pe-firm-youve-never-heard-of/ |access-date=20 January 2024 |website=Private Equity International |language=en-GB}}
On 11 October 2019, GLP announced that it would acquire 50% of CMC from CMG. Going forward CMC would be co-managed by both CMG and GLP.{{Cite web |title=GLP and China Merchants Group Announce Strategic Investment Partnership to Co-Manage China Merchants Capital {{!}} GLP |url=https://www.glp.com/global/article/glp-and-china-merchants-group-announce-strategic-investment-partnership-co-manage-china |access-date=20 January 2024 |website=www.glp.com}}
As of November 2020, CMC manages 37 private equity funds in seven different sectors and has 260 employees. Its largest fund is the Yinhe Equity Investment Fund which is a fund of funds that invests in CMC funds. Its funds typically tend to have a seven-year term that comprises a three to four-year investment period, two years to three years for divestiture and an optional one year add on.
CMC's capital comes from both government entities and private businesses. Notable investors include financial institutions such as Agricultural Bank of China, Mizuho Securities and SoftBank Group.
Notable deals
In November 2019, CMC and ESR Group launched the ESR Australia Logistics Trust, a A$350 million logistics real estate fund that would invest in Australian assets.{{Cite web |last=Tan |first=Su-Lin |date=12 November 2019 |title=ESR, China Merchants Capital Investment launch $350m logistics mandate |url=https://www.afr.com/property/commercial/esr-china-merchants-capital-investment-launch-350m-logistics-mandate-20191112-p539o2 |access-date=20 January 2024 |website=Australian Financial Review |language=en}}
In November 2022, CMC was exploring a takeover offer for Chinese data center operator Chindata. It was listed on the Nasdaq and was backed by Bain Capital.{{Cite web |last=Cao |first=Dong |date=1 November 2022 |title=China Merchants Exploring Takeover Bid for Bain's Chindata, Sources Say |url=https://www.bloomberg.com/news/articles/2022-11-01/china-merchants-said-to-explore-takeover-bid-for-bain-s-chindata |access-date=20 January 2024 |website=www.bloomberg.com}} In June 2023, CMC made a bid of $3.4 billion to rival Bain Capital's offer to privatize Chindata.{{Cite web |last=Cao |first=Dong |date=7 August 2023 |title=Bain Capital Edging Closer to Chindata Take-Private Deal, Sources Say |url=https://www.bloomberg.com/news/articles/2023-08-07/bain-capital-said-to-edge-closer-to-chindata-take-private-deal |access-date=20 January 2024 |website=www.bloomberg.com}} In August 2023, Chindata decided to go with Bain Capital's offer over CMC in a $3.16 billion deal.{{Cite web |last=Saini |first=Manya |date=12 August 2023 |title=Chinese data center operator Chindata to go private in $3.16 bln deal |url=https://www.reuters.com/markets/deals/chinese-data-center-operator-chindata-go-private-316-bln-deal-2023-08-11/ |website=Reuters}}
References
{{reflist}}
External links
- {{official website|http://www.cmcapital.com.cn}}
{{China Merchants Group}}
{{Private equity and venture capital}}
{{authority control}}
Category:Chinese companies established in 2012
Category:Companies of Hong Kong
Category:Companies based in Shenzhen