PHILADELPHIA, Pennsylvania, Jan. 11 -- Dechert, a law firm, issued the following news release:
Dechert LLP advised China Everbright Limited ("Everbright") on the final closing of US$539 million raised for its cross-border CEL Global Investment Fund, L.P. ("the Fund") from investors, including institutions, corporate investors, family offices and fund of funds.
China Everbright is a Hong Kong-listed financial conglomerate engaged in fund management and principal investment. It currently has HK$138.9 billion in assets under management across 55 funds.
Michael Wong, Hong Kong-based partner of Dechert, who specializes in fund formation and fund investments, advised the closing of the Fund and commented, "We are delighted to have advised Everbright on the Fund from its inception until the end of the fundraising lifecycle.
Dechert's investment funds team work on highly sophisticated, cross-border investment fund projects across various fund types, including hedge, private equity, private credit and fund of funds."
Since its establishment in the second quarter of 2016, the Fund has invested over US$350 million into various portfolios focusing on high value-added sectors, such as industrial communications and advanced manufacturing. Its investments in equities span across companies in Asia, North America and Europe with strong growth in China.
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