Clifford Chance

Clifford Chance advises ICBC’s SINO-CEEF on establishment of SINO-CEE Fund II in Luxembourg

Leading international law firm Clifford Chance has advised SINO-CEEF Capital Management Co., Ltd., a market-oriented private equity investment company launched by the Industrial and Commercial Bank of China (ICBC) together with other shareholders, on the establishment of SINO-CEE Fund II in Luxembourg. Fund II builds on the experience of SINO-CEE Fund I, and will focus on investments in Central and Eastern Europe, particularly in the infrastructure, advanced manufacturing and consumer sectors, with a fund size targeted at EUR 600 million. Clifford Chance previously advised ICBC on the establishment of SINO-CEE Fund I in 2016.

Partners Ying White in Beijing, and Paul Van den Abeele and Geoffrey Scardoni in Luxembourg advised on the deal. The partners were supported by a cross-border team in Shanghai, Hong Kong and Luxembourg which includes senior associates Caroline Poiret, Bernice Lin, associate Thu Thao Nguyen and paralegal Yann Burgholzer.

Ying commented, “We are delighted to advise on SINO-CEEF’s milestone transaction which follows the success of Fund I. This transaction builds on our track record of advising Chinese corporate sponsors on offshore fund formations. In particular, we have seen significant activities in funds focusing on the renewables and infrastructure sectors, which will enable the substantial deployment of capital to drive sustainable development and accelerate the energy transition.”