Trustar Capital, earlier known as CITIC Capital Partners, has made the final close of its fourth RMB-denominated buyout fund at 1.5 billion yuan ($208.8 million), the firm announced in a release on Sunday.  

The M&A fund has landed cornerstone investment from Suzhou Industrial Park’s industry investment fund, which is managed by Harvest Capital.

The vehicle has also secured capital commitments from insurance asset management companies, publicly-listed firms, and family offices, Trustar Capital said in the statement.

The buyout fund seeks to make controlling stake investments across consumer, healthcare, business services, technology, energy and advanced manufacturing sectors.

In March 2021, CITIC Capital Holdings announced the rebranding of its private equity affiliate CITIC Capital Partners as Trustar Capital. With $7.7 billion of committed capital, Trustar Capital has by far completed over 80 deals across China, Japan, the US, Europe, and beyond. It specialises in control buyout opportunities.

Founded in 2002, CITIC Capital is an alternative investment and advisory firm managing $17 billion for a diverse range of institutional investors worldwide. Its major businesses include PE, real estate, structured investment and finance, special situations, and asset management.