China-based diversified conglomerate Dah Chong Hong (DCH) yesterday announced it will partner its parent company, Citic Pacific, to create an $80m fund targeting the consumer and healthcare sectors.
DCH and Citic Pacific, itself a subsidiary of investment holding group Citic, will each commit $40m to Tamar Alliance Fund. The firms will seek to raise more capital from additional investors for the fund but have not revealed a final target.
Tamar Alliance Fund will focus on companies based in Asia, particularly those that could benefit from DCH’s logistics network and market expertise.
DCH operates a wide range of businesses, from car dealerships and vehicle financing, to food processing and distribution, to healthcare and electronic products trading. It has partnerships in place with more than 1,000 brands across more than 30 countries.
Frank Lai, chief executive of Dah Chong Hong, said: “With the establishment of the Tamar Alliance Fund, DCH continues a rich history of serving Asian markets and consumers.
“Equity investment in select companies and the ongoing support of Citic Pacific will enable us to strengthen existing capabilities and leverage our established regional network to benefit directly from evolving Asian economies.”