New York (HedgeCo.net) – Global alternative fund placement agent, C.P. Eaton Partners has launched a dedicated effort to enable all of its current and future general partners access to renminbi (Chinese yuan, or RMB) capital sources within mainland China. In conjunction, C.P. Eaton announces the hiring of Eric Gu as vice president to lead the effort from the Firm’s Shanghai Representative Office.
The firm’s average commitment is $50 million. Partnering with a select number of the highest-quality fund managers, C.P. Eaton has worked with some of the most innovative hedge funds of the last two decades.
“We raised our first Asia-based Private Equity fund in 1994 and have grown in the region commensurately as the region itself has grown.” Charles P. Eaton, Founder of C.P. Eaton, said, “We view the RMB platform as an important evolutionary step in our continued dedication to the region, and welcome Eric Gu to the firm to lead the effort.”
C.P. Eaton is developing the RMB fundraising capacity for both western-based fund managers and Chinese domestic fund managers in the alternative investment space. C.P. Eaton believes interest in RMB funds will certainly continue to grow given the ongoing development of China’s capital markets and the anticipated strengthening of the RMB against the U.S. dollar. The number of RMB funds and amount of capital raised increased sevenfold from 2006 to 2009, according to Zero2IPO.
Gu said, “The Chinese investment market is undergoing a rapid transformation and institutionalization process. This represents an incredible opportunity to bring investors and investments together. I’m excited to be joining C.P. Eaton, a Firm that is fostering this healthy and growing relationship.”
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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