CITIC Capital Holdings Ltd has raised US$925 million in its second China buyout fund to invest in mainly consumer and manufacturing sectors.

The fund exceeded the initial fundraising target of US$750 million, said CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Ltd, in a statement on its Website yesterday.

It will target buyout and privatization investments in Chinese companies benefiting from the long-term development of the Chinese domestic economy, particularly in the consumer products and manufacturing sectors, the statement said.

"We are confident that our unique combination of top-tier investment professionals coupled with the unparalleled support of our sponsors will continue to produce exceptional investment opportunities for CCCP II," said Yichen Zhang, CITIC Capital's Chief Executive Officer.

Citic Capital raised US$425 million in its first China buyout fund in April 2007, above the US$250 million target size. The firm made a landmark buyout of Harbin Pharmaceutical Group, one of China's most profitable pharmaceutical companies.

Founded in 2002, CITIC Capital Holdings Ltd is an alternative investment management and advisory firm owned by China's sovereign wealth fund China Investment Corp, CITIC International Financial Holdings Ltd and CITIC Pacific Ltd.

The firm manages over US$3 billion of capital from a diverse group of international and Chinese investors. Its core businesses include private equity, real estate, structured investment and finance and asset management.