Investcorp, a global alternative asset manager, and Fung Capital, the private equity investment arm of Fung Investments, agreed to form a $500m joint venture to invest in mid-cap companies across China’s Greater Bay Area. “We are proud to announce this new fund on the first day of FII with our partners Fung Capital, which is part of the Fung Group that has over a century of operating expertise in China and a strong GBA ecosystem. The GBA is a globally competitive industrial and technology cluster and there are strong fundamentals that single out the GBA ecosystem. There is big potential, particularly, for GBA-centered mid-cap companies with innovative products and services targeting Asian but also global customers to be grown into significantly larger players. GBA’s role as one of the main economic engines of China has never been more important as the country looks to rebalance its economy towards a consumption and innovation driven model, and the GBA offers enormous investment potential,” Mohammed Alardhi, Investcorp Executive Chairman.