Business / Markets

CMC wraps up dollar-denominated fund

By SHI JING in Shanghai ( Updated: 2014-05-08 17:38

CMC Capital Partners announced on Wednesday the final closing of its first USD-denominated fund CMC Capital Partners LP, at its hard cap of $350 million in total equity capital commitments.

Investors in this fund include leading international funds of funds, sovereign wealth funds and global leaders in the media and entertainment industry.

"We are highly pleased at and grateful for this vote of confidence in CMC by the international investment community. The media, entertainment and related sectors of China are undergoing unprecedented evolution, where CMC has been continuously dedicated to identifying unspotted opportunities to deliver true value for investment while facilitating reforms and growth in key subsectors of infrastructural significance in China's media and entertainment industry," said Li Ruigang, founding chairman of CMC Capital Partners.

CMC was established by Li Ruigangin 2010 as China's first media-and-entertainment dedicated fund platform. Up till now, its successful investments include the acquisition of Star China, a former News Corp China asset, Oriental DreamWorks, a joint venture with Hollywood-based DreamWorks Animation, and a new urban entertainment destination, Dream Center.

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