A piece of July 11 news said that Shanxi Energy Industrial Investment Fund (Shanxi Energy Fund) has completed the formation of its fund management company. Relevant plans have been submitted to the National Development and Reform Commission for review and approval. After four years' preparations, China's first energy industrial investment fund has finally taken initial shape.

The fund's total scale is RMB10 billion, and its initial scale is RMB6 billion. It will exist for 15 years. After the State Council approved its establishments in September 2007, the fund has become one of the second-batch industrial investment funds (in trial).
     
Reportedly, the fund's name is Chaohui Energy Industrial Fund Management Company (Chaohui). The fund has three initiators, including Shanxi Haoding Energy Investment Co., Ltd., China Science & Merchants Investment Management Co.,Ltd., and Guangda Sanshan Venture Capital Management Co., Ltd.

The plans for establishing Chaohui have been submitted to the NDRC for approval. After it gets approval, it will act as the manager of Shanxi Energy Fund and raise capital from all kinds of investors. As planned, the potential LPs include industrial and commerce enterprises, investment institutions, banks, social security fund, and insurance companies as well as other institutional investors. It takes Chaohui nine months to complete fund-raising.