Qingdao Doublestar sets up buyout fund
Qingdao Doublestar Co., Ltd. prepares to set up a buyout fund along with the Management Center of Guangrao Caijin Equity Investment Fund and Shandong Yinji Equity Investment Management Co., Ltd.
The buyout fund is called "Guangrao Youchuang No.3 Development Fund Management Center (LLP)".
The scale of the buyout fund will not excess 901 million yuan, with Qingdao Doublestar investing 200 million yuan, Guangrao Caijin investing 100 million yuan, and Yinji Investment investing 1 million yuan.
At the same time, Yinji Investment will raise no more than 600 million yuan from qualified institutional investors.
A five-person investment committee will be set up for the buyout fund, with one from Guangrao Caijin, two from Qingdao Doublestar, and two from Yinji Investment.
All the investment programs have to be voted and a program must be consented by more than 2/3 members of the committee in writing.
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