SOURCE: Century Bridge Capital

Century Bridge Capital

September 05, 2012 08:00 ET

Century Bridge Closes China Private Equity Real Estate Fund

BEIJING and DALLAS, TX--(Marketwire - Sep 5, 2012) - Century Bridge Capital announced today the closing of its private equity real estate fund, Century Bridge China Real Estate Fund, L.P. The fund has over $170 million of total committed capital, which they will deploy as equity investments in build-to-sell, middle-income, residential real estate projects and development enterprises in China's growing Tier II cities. Commitments to the fund were received from several large, global investors, including the Church Pension Fund, Metropolitan Real Estate Equity Management, Merseyside Pension Fund, Quilvest and Deutsche Finance Group.

Commenting on the closing of the fund, Century Bridge CEO, Tom Delatour, noted, "We are pleased with the success of our capital raise, especially in the context of a challenging fundraising environment, and we are delighted to be partnering with investors who recognize and appreciate the strength of our strategy. We established our operations in China more than five years ago with a focus on middle-class housing in Tier II cities. As a result, we have in place a seasoned team of Chinese real estate professionals who are essential to the thoughtful selection of development partners and the thorough underwriting of prospective investments, as well as the hands-on management of these developments with our Chinese JV development partners. This approach allows us to source prime development opportunities with experienced partners and structure deals that meet the mutual investment criteria of our JV partners and our investors." 

Century Bridge President, Wei Deng, added, "We work hand in hand with our JV partners throughout the construction, development and marketing processes. Our ability to work closely with our local partners also facilitates both the initial investment and repatriation processes, which can be complex for foreign investors who choose to go it alone. Our established local presence with both Chinese and US professionals is a critical and distinguishing factor for our local partners and enhances our access to attractive deal flow." 

With 300-400 million people expected to relocate to China's cities in the next 15 years, China's ongoing urbanization and infrastructure needs will continue to drive growth in the Tier II cities. Century Bridge Capital believes that this dynamic bodes well for continuing stability and investment opportunity in middle-class housing in China's Tier II cities.

Avec Capital/XT Capital Partners led the fundraising on behalf of Century Bridge.

Century Bridge Capital is a private equity firm with offices in Beijing, China and Dallas, Texas. The firm is focused exclusively on investment in the middle-income, residential real estate sector in China's growing Tier II cities.

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    Guy Lawrence
    Ross & Lawrence
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    Jeff Tucker
    Century Bridge Capital
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