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Ex-Deutsche Banker Cai Raises $650 Million for China-German Fund

  • Henry Cai says AGIC fund to raise $1 billion by end of 2015
  • AGIC fund to invest in companies in German-speaking countries

Henry Cai, former Asia-Pacific chairman of corporate finance at Deutsche Bank AG, has raised $650 million for a new $1 billion private-equity fund that will invest in industrial companies in German-speaking countries seeking to grow their China operations.

The AGIC Group fund should reach the target size of $1 billion by the end of the year, after a second round of capital raising among investors in the Middle East and Europe, Cai, the fund’s chairman, said in a telephone interview on Thursday.