Beijing-based Berun Group has teamed up with Australian Private Capital Investment Group to form a US$2B green private equity (GPE) fund on June 3.

Investors of GPE Fund include groups and individuals from Australia, Europe, the Middle East and Japan. Xiaodong Wang, President of Berun Group, said most of the fund has been allocated, a majority of which is sourced from Arab. The to-be-raised capital will be sourced from overseas investors.

GPE Fund was established in line with the international practice of private equity investment fund. It will invest in those hi-growth and hi-stability enterprises contributing much to the improvement of natural environment via venture capital investment, industrial investment, and private equity investment, etc.

Also according to Mr. Wang, this fund will primarily help the reconstruction of the affected areas by Sichuan earthquake.