Formation of Prosperity Risk Balanced Fund LP
RECAS Global Limited (www.recas-group.com) together with BRIC Neutron Asset Management Limited (www.bricneutron.com) has set up Prosperity Risk Balanced Fund LP, a Cayman Island Exempted Limited Partnership in September 2015, which is a private equity real estate fund investing into residential development projects in first tier cities of mainland China with an initial US$60 million already subscribed for a targeted US$250 million maximum fund size at final closing.
Prosperity will be managed by a joint venture fund management company Prosperity Risk Balanced GP Limited which is a Cayman Island General Partnership 60% held by RECAS and 40% held by BRIC. The Fund Administrator is UBS Fund Services Cayman. The fund will have a life of 7+1+1 years. The investment and divestment decisions will be made by the Fund Investment Committee.