Ropes & Gray Advises Ping An on Raising USD 850 Million for Overseas Private Equity Investing

Ropes & Gray advised China Ping An Insurance Overseas (Holdings) Limited, the main offshore investment and asset management platform of Ping An Insurance (Group) Company of China, Ltd. (“PAOH” or “Ping An”), on raising USD 850 million for its third vintage of private equity fund program (the “Fund”). The fund announced its successful closing on October 18.

The Fund received capital commitments from a group of global investors, led by AlpInvest Partners (“AlpInvest”) and Montana Capital Partners (“mcp”), among others.

The Fund is a continuation of PAOH’s dedicated investment program focusing on the overseas private equity market. It comprises a well-diversified portfolio of top-tier buyout and growth managers in North America and Europe which was invested by Ping An and was transferred to the Fund as a secondary transaction. The Fund also includes a mandate that will invest in co-investment opportunities sourced from Ping An’s extensive network of global GP relationships.

Ropes & Gray’s Hong Kong team advising Ping An was led by alternative asset opportunities partner and Hong Kong office managing partner Vincent Ip, and included alternative asset opportunities counsel Billy Zhang, and associates Angela Liu, Lily Li and Ziyou Zhu.