China Insurance Regulatory Commission (CIRC) issued the Notice on Matters Related to the Establishment of Insurance Private Equity Funds on 10 September. The private equity industry is poised to benefit from the policy changes under the notice, and welcome a number of new players with deep pockets. This column will briefly overview the key points of the notice.
Zhang Xianzhong
安杰律师事务所
合伙人
Partner
AnJie Law Firm
Q: What are the main policy changes under the new notice?
A: Previously, the main policy governing the investment of insurance capital in private equity (PE) funds was the Provisional Measures for Equity Investment with Insurance Funds issued by the CIRC on 31 July 2010.
Pursuant to the interim measures, insurance capital could invest in PE investment funds meeting certain requirements only in their own capacity as an active investor. Insurance capital which was acting a passive investor was unable to actively sponsor and manage a private equity fund.
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Zhang Xianzhong is a partner of AnJie Law Firm
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