Hony Capital Said to Raise $2.7 Billion for Yuan-Dollar Fund

  • Will be first dual-currency fund raised by large PE firm
  • Fund meant to resolve tension between dollar, yuan investors

Hony Capital Ltd., the Chinese private-equity firm that bought U.K. restaurant chain PizzaExpress Ltd. in 2014, raised $2.7 billion for a dual-currency fund intended to smooth the way for overseas and China-based investors to participate in the same deals, people familiar with the matter said.

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