Gang Xu, President of IManagers Group (IMG), disclosed days ago that the group will launch a China-focused PEFOF-IManagers Capital-in the second half of this year. The capital is sourced from several institutional investors and will be allocated within two years. Based on the LPs' plan, RMB2B will be invested into PE funds from IManagers Capital within two years.

The PEFOF will be the first non-governmental RMB private equity fund of funds across the Mainland China.

Mr. Xu deemed that, in the international capital market, the launch of PEFOF marks the maturity of equity investment. Specifically, PEFOF has become the second largest capital source (second to the pension funds) for private equity funds. About US$500B PEFOF has invested in the PE market so far.