Fortune Link Fund Management Co., one of China's major fund managers, said
Monday that it has signed a deal to team up with South Korea's No. 2 brokerage
house KDB Daewoo Securities Co. in the Chinese private equity market.
"We believe that cooperation between the two firms will play a tremendous role
of promoting bilateral private equity investments, especially in small and
mid-sized enterprises both in China and South Korea," Fortune Link Fund
Management said in its press release.
Shenzhen-based Fortune Link Fund
Management, set up in 2005, has branches across China in cities such as
Shanghai, Anhui, Hebei, Foshan, Heilongjiang and Suzhou.
The fund
management firm established by Kan Zhidong, known as a pioneer in China's
venture capital industry, has invested in a number of companies that were or are
expected to be listed on stock markets in mainland China and Hong
Kong.
Its investment in Sinovel Wind Group Co., China's largest
wind-turbine maker by market share, was reputed to be one of the most successful
cases in the Chinese venture capital industry. The wind-turbine maker floated
its shares on the Shanghai Stock Exchange in January 2011.
China is
the largest overseas market for South Korean companies, and second largest
investment destination, with more than 20,000 companies doing business there at
present.
Two-way trade between Seoul and Beijing skyrocketed to
US$220.6 billion last year from a meager $5 billion in 1992. The trade volume is
expected to reach $300 billion by 2015.