China-ASEAN Investment Cooperation Fund (CAF) is a USD-denominated offshore quasi-sovereign equity fund sponsored by the Export-Import Bank of China (EXIM Bank), among other institutional investors, under the direction of the PRC State Council and approved by the National Development and Reform Commission. The fund targets investment opportunities in infrastructure, energy and natural resources in the ASEAN countries. The establishment of CAF was led by EXIM Bank and approved by the PRC State Council. CAF provides capital supports to the outstanding enterprises in both China and the ASEAN region and enhance value for the sponsors.
[Founded Time]
It was formally announced by former Chinese Premier Wen Jiabao in 2009, and further approved by the National Development and Reform Commission in 2013.
[Investment Approach]
CAF's investment professionals evaluate each potential deal opportunity based on a comprehensive due diligence process that analyzes a company's financial performance, market growth potential, industry attractiveness and competitive position. Through close cooperation, CAF supports the management of investee companies to successfully implement effective business plans that include acquisition development programs, corporate capital restructuring, scalable expansions designed to leverage competitive advantages and strategies for improving overall operating performance.
Typical investment size of USD 50 to 150 million
Prefers minority stake investments
Adopts co-investment model with strategic investors
Diversified investment channels in equity, quasi equity and other financial instruments
Invests in both listed and non-listed companies either with majority assets located in the ASEAN region or registered in one of the ASEAN countries
Invests in both Greenfield and Brownfield projects at the company and/or project levels
[Target Sectors]
Infrastructure
Toll Road
Rail
Container Port
Airport
Telecom
Water / Wastewater
Oil & Gas Pipeline
Social Infrastructure
Energy / Power
Conventional
Renewables
Natural Resources
Industrial metals: Ferrous and Non-Ferrous Metals
Precious metals: Gold, Palladium, Platinum and Silver
Plantation-related: palm oil, pulp and rubber
