China’s CDB Capital Raises $1.4 Billion for Private Equity Fund

China Development Bank Capital Corp., the fund management unit of the country’s biggest policy bank, said it raised 9 billion yuan ($1.4 billion) for a fund of private-equity funds.

The CDB Guochuang Kaiyuan Private Equity Fund of Funds plans to raise 10 billion yuan by the end of the year, according to an e-mailed statement from CDB Capital, a unit of China Development Bank Corp., which is one of the nation’s three state-owned banks that support government initiatives.