China's NSSF wins nod to inject RMB50 bln in PE funds

China's National Social Security Fund (NSSF) won the regulatory approval to invest 10% of its total assets in private equity (PE) funds that are not backed by the government, sources reported.

A more exact figure of the approved investment would reach about RMB 50 billion, calculated from the NSSF's total capitalized assets of RMB 516.2 billion by the end of 2007.

Insiders disclosed that two local PE funds investment institutes, namely China Ding Hui Investment and Hong Yi Investment, will win separately RMB 1 billion for their planned RMB-dominated PE funds from the NSSF.

However, both investment institutes refused to make comments on the issue.