By Kane Wu HONG KONG (Reuters) - Chinese private equity firm Trustar Capital is planning to raise a so-called continuation fund that would allow it to ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSHONG KONG - Chinese private equity firm Trustar Capital is planning to raise a so-called continuation fund that would allow it to sell down its stake in McDonald's China, two sources with knowledge of the matter said.
During the fundraising process for the continuation fund, investors in Trustar's PE fund, known as limited partners, would have the option to sell their shares in McDonald's China and cash out, said the people. Trustar is in preliminary talks with Singaporean and Abu Dhabi's sovereign wealth funds GIC and Mubadala respectively, among others, for anchor investments in the continuation fund, the people said.
Trustar did not respond to a Reuters request for comment. Without commenting on Trustar's plan, MacDonald's China said it was"highly confident" about long-term sustainable growth in China.In 2017, Chicago-based McDonald's Corp sold an 80% stake in its Chinese operations to a group that included CITIC Ltd, its investment arm CITIC Capital, and Carlyle Group for up to $2.1 billion.
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