Chinese PE Hony Capital ties up with state-owned People Capital to launch $281m fund

Chinese PE Hony Capital ties up with state-owned People Capital to launch $281m fund

Traffic move down the third ring road in Beijing, China, on Monday 15 May, 2017. Photographer: Qilai Shen/Bloomberg

Chinese private equity major Hony Capital has inked an agreement with People Capital, the investment platform of state-owned publication People’s Daily Online, to debut a 2-billion-yuan ($281 million) fund to back companies in the digital content field.