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C.P. Eaton launches RMB fundraising platform

C.P. Eaton Partners has launched a platform to enable all of its current and future general partners access to RMB capital sources within mainland China.

In conjunction, C.P. Eaton has hired Eric Gu as vice president to lead the effort from the firm’s Shanghai representative office.
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.

The firm believes interest in RMB funds will continue to grow given the ongoing development of China’s capital markets and the anticipated strengthening of the RMB against the US dollar.

The number of RMB funds and amount of capital raised increased sevenfold from 2006 to 2009, according to Zero2IPO.
David M. Love (pictured), who oversees C.P. Eaton’s Asia operations, says: “C.P. Eaton is a first-mover in the Asian market. We are the first among global placement agencies to launch an RMB fundraising platform, just as we were the first placement agent to open a representative office in the PRC in September 2007.”

Gu joined C.P. Eaton in April and reports to Jingjing Bai, who heads the firm’s Shanghai representative office. He comes to C.P. Eaton from the China National Social Security Fund, which was formed in 2000 to help fund future pension liabilities and increase social security benefits within the PRC.

Gu says: “The Chinese investment market is undergoing a rapid transformation and institutionalisation 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.”

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