Cathay Capital Private Equity, an international investment platform focused on cross-border investment supporting the international expansion of middle-market companies in North America, Europe and China, raised $850m for its latest private equity fund, Midcap II.
Cathay Capital Midcap II was backed by a diverse group of existing and new global investors comprising sovereign wealth funds, institutional investors, corporates, and family offices.
Midcap II will invest in 16 to 20 companies in the consumer products and services, business and digital services, healthcare and advanced manufacturing sectors with equity tickets of $25 to $75m in control and minority investments.
To date, Midcap II has completed four direct investments, including its first investment by its North American team – a luxury outerwear company geared toward Millennials and Gen Z consumers.
Founded in 2007, with offices in the U.S., Europe and China, Cathay Capital has completed over 140 buyouts, growth and venture capital investments. Midcap II represents Cathay Capital’s largest fund to date and an increase of $325 million over its Midcap I fund, which closed in 2014. With the new fund, Cathay Capital will have $3.8+ billion in assets under management.