On June 20, Hopu USD Master Fund I, L.P. raised US$2.5B from Temasek Holdings, Goldman Sachs, Shell Pension Funds and other well-known overseas institutional investors.

This is so far the largest PE fund targeting China and managed by Chinese people. Chaohui He, one of the Founding Partners, said this fund will invest in China-based enterprises: First, to directly invest in Chinese enterprises; Second, to help Chinese enterprises go public overseas; Third, to help oversea investors invest in China. "The enterprise itself matters. We have no preference in industry or location." Mr. He emphasized.

This Fund adopts the partnership mechanism in line with the international practice. It lasts 10 years and will be invested out during 5 years. Hopu Investment Management Company, as the GP, owns 1% stake to charge 2% of management fee and gain 20% of dividends.