China’s Dajia Insurance Group has launched its first private equity (PE) fund at 5 billion yuan ($728.1 million) to invest in the equities of healthcare and elderly care providers looking to serve an ageing population in the world’s second-biggest economy.
The move makes Beijing-based Dajia the latest Chinese insurance firm to deploy capital into PE after regulators in the country relaxed rules to encourage more insurance money to flow into this asset class. In recent years, China Life Insurance, China Pacific Insurance, and Taikang Life Insurance have either built their own PE funds under partnerships or committed to funds managed by existing PE companies.
