(Hong Kong, 6 Aug 2025) – Trustar Capital (the private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce the final closing of its latest RMB buyout fund (hereinafter referred to as the “New RMB Buyout Fund” or “the Fund”) with a total size exceeding RMB4.5 billion. Following this fundraising, Trustar Capital’s total assets under management (AUM) reach USD9.59 billion.
The Fund has attracted a diverse group of institutional investors, primarily comprising government guidance funds, insurance capital, funds of funds, securities companies, and corporates. Established in the Suzhou Industrial Park, a national-level economic and technological development zone, the Fund will leverage the industrial cluster advantages of the Yangtze River Delta region to drive deeper integration of capital and industry.
The Fund will adhere to Trustar Capital’s core investment strategy, focusing on control buyouts across its key sectors and around its portfolio ecosystem, targeting high-growth companies.
Since its inception, Trustar Capital has invested in leading companies across various sectors, completing a number of landmark transactions, including McDonald’s China, TrustLink, GuiLong Pharmaceutical, OmniVision and AsiaInfo. This experience has enabled Trustar Capital to build a robust portfolio ecosystem.
Yichen ZHANG, Chairman and CEO of CITIC Capital and Chairman of Trustar Capital, stated: “Despite a complex and evolving global landscape, China’s economy has demonstrated resilience and maintained steady growth. The domestic private equity industry is navigating a period of adjustment, making the successful final closing of our new RMB Buyout Fund especially meaningful. The achievement reflects strong investors confidence in our strategy and track record, as well as the continued trust and expectations of both new and existing limited partners. It underscores our shared confidence in China’s economic outlook.”
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About Trustar Capital
Trustar Capital (the private equity affiliate of CITIC Capital Holdings Limited), focuses on control buyout opportunities globally and has completed over 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD9.59 billion of committed capital. For more information, please visit http://www.trustarcapital.com/.
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages aapproximately USD14 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, asset management, and special situations. CITIC Capital has over 300 portfolio companies that span 10 sectors and employ over 500,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(Tokyo, 31 March 2025 ) Trustar Capital Partners Limited (“Trustar Capital”) is pleased to announce that it has transitioned the bank loan (the “Loan”) previously implemented through KG Holdings Co., Ltd. (“KGHD”), the holding company of Kaneko Group when it entered into a strategic investment with Kaneko Group back in 26 December 2023, into sustainable finance (converting into Sustainability-Linked Loan) today with opinion obtained from a third-party rating agency.
The Loan, originally formed with MUFG Bank Ltd. as the arranger, has now been successfully converted into sustainable finance. This transition was achieved with the support of existing lenders and a third-party assessment by Japan Credit Rating Agency Ltd. confirming compliance with both the Sustainability-Linked Loan (“SLL”) Principles1 and Sustainability-Linked Loan Guidelines2.
SLL is a financing mechanism designed to incentivize borrowers’ sustainability progress by linking loan terms such as interest rates to the achievement of ambitious Sustainability Performance Targets (“SPTs”), which are derived from Key Performance Indicators aligned with the borrower’s core sustainability strategy. Under the Loan, SPT is defined as the net increase in waste paper collection volume at Kaneko Corporation (“Kaneko”, led by President & CEO of Takuzo KANEKO), the core company of Kaneko Group, and the incentives of preferential interest rates are applied based on SPT achievement levels.
Kaneko is a leading integrated recycling solution provider, delivering one-stop services from collection, transportation and intermediate processing (including re-manufacturing of waste paper) of not only waste paper, but also various other materials including plastics and metals. Kaneko Group has established its most critical objectives to achieve both business growth and contribution on eco-friendly sustainable society: “Accelerating group-wide initiatives in strengthening recycling, reuse and waste reduction” as well as “Enabling customers’ circular economy”, where the SPT metric of net increase in waste paper collection volume directly links with the progress towards these objectives.
Trustar Capital has consistently conducted investment activities guided by “Investing for Good” philosophy. By focusing on responsible investments with considerations on sustainability and ESG, it will not only bring economic returns, but also long-term and continuous benefits for society and environment. Since formalizing group-wide ESG policy in 2018, Trustar Capital has systematically embedded sustainability and ESG considerations into each stage of the investment lifecycle. The transition into sustainable finance collaborating with portfolio company this time further promotes “Investing for Good” philosophy through actionable movements.
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About KG Holdings Co., Ltd.
Established: 2023
Representative: Takuzo KANEKO, President and CEO
Headquarters: 990 Okitsu-nakamachi, Shimizu-ku, Shizuoka, Japan
Website: https://kaneko-hd.co.jp/
About Trustar Capital Partners Limited
Trustar Capital Partners Limited specializes in private equity fund business globally with a focus on Asia including Japan.
Trustar Capital Japan Fund provides hands-on support to help medium-sized Japanese enterprises with strong brand equity and technological advantage to achieve sustainable growth. Since the establishment in 2004, Trustar Capital Japan Fund has executed 17 platform investments across target sectors.
Websites:
(Japanese) http://www.trustarcapital.jp/
(English) http://www.trustarcapital.com/
For inquiries, please contact:
Trustar Capital Partners Japan Limited
03-5211-3830 (Taizo SEKO)
(１) Asia Pacific Loan Market Association (APLMA), Loan Market Association (LMA), Loan Syndications and Trading Association (LSTA). “Sustainability-Linked Loan Principles 2023” (https://www.lsta.org/content/sustainability-linked-loan-principlessllp/)
(２) Ministry of the Environment: Sustainability-Linked Loan Guideline 2024 (https://www.env.go.jp/content/000062348.pdf)
(Hong Kong, 21 October 2024) CITIC Capital Holdings Limited announced that through its private equity affiliate, Trustar Capital, it has entered into a share purchase agreement with CITIC Limited to acquire its equity interest in McDonald’s mainland China, Hong Kong and Macau businesses (hereafter referred to as “McDonald’s China”). Upon completion of the transaction, the CITIC Capital consortium (including CITIC Capital and Trustar Capital) will remain McDonald’s China’s controlling shareholder and will continue to play a significant role in its operations going forward.
Since 2017, McDonald’s China has experienced rapid expansion and robust development, marking a significant milestone for us. Driven by strong optimism about the growth prospects of the Chinese economy and consumer market, as well as the development potential of McDonald’s China, the CITIC Capital consortium has increased its investment.
Yichen ZHANG, CITIC Capital’s Chairman and CEO, Chairman of McDonald’s China, said: “As the controlling shareholder of McDonald’s China, we are committed to elevating McDonald’s China to new heights and achieving our goal of opening over 10,000 stores. Over the years, we have collaborated closely with CITIC Limited to facilitate McDonald’s China’s rapid growth and have achieved remarkable results in terms of business expansion, sustainable development and strong recognition from investors and consumers. We look forward to continuing the business collaboration with CITIC Limited in the future and jointly promote the high-quality development of China’s economy and consumer market.”
For details of the transaction, please refer to the official announcement of CITIC Limited: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1021/2024102100405.pdf
About CITIC Capital and McDonald’s China
In 2017, CITIC Capital, CITIC Limited, Carlyle, and McDonald’s Corporation established a strategic partnership. Driven by strong conviction about the growth prospects of McDonald’s China, CITIC Capital acquired 22% of McDonald’s China’s stake from CITIC Limited in early 2020, further expanding its ownership to 42%. CITIC Capital has taken a series of measures to promote the local development of McDonald’s China by accelerating store openings, digital empowerment, and localization of the supply chain, which significantly improved McDonald’s China’s operational capabilities and financial performance. In 2023, McDonald’s Corporation agreed to acquire Carlyle’s minority ownership stake in McDonald’s China, increasing its stake in McDonald’s China to 48%. In 2024, the CITIC Capital consortium announced its plan to increase its investment in McDonald’s China. Following the completion of the transaction, the CITIC Capital consortium will hold 52% ownership in McDonald’s China.
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RMB60 billion investment marks one of the largest private equity transactions in China in the past five years
(Dalian, 30 March 2024) PAG, together with CITIC Capital, funds managed by Ares Management (“Ares”), Platinum Peony B 2023 RSC Limited (a wholly-owned subsidiary of the Abu Dhabi Investment Authority or “ADIA”), and Mubadala Investment Company (“Mubadala”), today announced the signing of a joint investment of approximately RMB60 billion (USD8.3 billion) for a 60% stake in Newland Commercial Management.
Newland is an operational management platform which inherits the businesses of Zhuhai Wanda Commercial Management Group Co., Ltd. (“WCM”), currently managing 496 large-scale commercial malls across China.
The signing today follows the announcement on 12 December 2023 by PAG and Dalian Wanda Commercial Management Group Co. Ltd. for the framework of reinvestment in WCM.
The investment announced today marks one of the largest private equity transactions in China in the past five years, representing a strong vote of confidence by global institutional investors in Newland’s growth prospects.
David WONG, Partner and Co-Head of Private Equity at PAG, said: “This investment demonstrates global institutional investors’ recognition of Newland’s long-term development potential. We believe that Newland’s strong competitiveness and significant first-mover advantage will support it to achieve stable and sustainable operating performance, which in turn will bring solid returns to investors.”
Yichen ZHANG, Chairman and Chief Executive Officer of CITIC Capital, said: ” CITIC Capital holds a strong long-term belief in the tremendous potential of the commercial management market in China. As a frontrunner in the industry, Newland boasts significant competitive advantages and a promising future. We are confident that this investment will provide Newland with lasting stability and support, facilitating the company’s robust and rapid development, and driving further value creation.”
In August 2021, PAG, CITIC Capital, Ares and other existing investors made an investment in WCM. In the three years since then, WCM has consistently outperformed its financial targets and has distributed dividends to shareholders of RMB4.6 billion in 2021, RMB6.7 billion in 2022 and RMB8.8 billion (estimated) in 2023.
Newland has pledged to focus on building independent corporate governance, incentivizing the management team, and improving its operational efficiency. The investors are committed to support Newland’s long-term growth prospects by solidifying its market-leading position in the commercial mall operational management sector.
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About Newland Commercial Management
Newland Commercial Management, together with its subsidiary Zhuhai Wanda Commercial Management Group Co., Ltd., is the world’s largest commercial management company. Over the past 20 years has established trust partnerships with more than 25,000 brands and built a strong competitive advantage. The company currently manages 496 large-scale commercial malls in 230 cities across China with about 70 million square meters of area under management, serving more than 100,000 commercial customers. The company is committed to green and high-quality development with 254 shopping malls under management having obtained Green Mall certification.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD16 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 500,000 people around the world. For more information, please visit www.citiccapital.com.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(Tokyo, 31 January 2024) Trustar Capital Partners Limited (“Trustar Capital”) announced today that it has completed the sale of MARK STYLER Co., Ltd. (“MARK STYLER” or the “Company”) held by its third Japan buyout fund to the current Company management for their Management Buyout (the “MBO”).
MARK STYLER is one of the top young ladies’ apparel companies in Japan. With the philosophy of “always being a company that delivers enjoyment, excitement and luxury to people around the world through fashion”, MARK STYLER has built up 15 distinguished popular brands, including MERCURYDUO, EMODA, GYDA, Ungrid, dazzling, and LAGUNAMOON, etc. It operates over 150 domestic stores and also runs its own EC platform, “RUNWAY channel,” etc. to spread fashion through diverse channels.
Since the investment in May 2015, Trustar Capital has continuously supported MARK STYLER’s business transformation and growth together with the Company management. Besides taking a series of initiatives to further strengthen a robust domestic business base, for overseas business, Trustar Capital has also actively facilitated the Company to expand its China presence, leveraging its rich experience, know-how and resources network.
MARK STYLER is now embracing a new growth chapter. Trustar Capital believes that after the MBO, the Company will further deliver prosperous business performance and continue to bring more enjoyment, excitement and luxury to customers as an apparel industry pioneer under its rapid decision-making mechanism led by the current Company management.
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Note: Anderson Mori & Tomotsune served as a legal advisor for the transaction.
About MARK STYLER Co., Ltd.
Established: 2005
Representative: Masanori AKIYAMA, President and CEO
Headquarters: 5-8-14 Hiroo, Shibuya-ku, Tokyo
Website: https://www.mark-styler.co.jp/
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.7 billion of committed capital. For more information, please visit http://www.trustarcapital.com/.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited, founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages USD17 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director, Head of Japan Private Equity
Trustar Capital Partners Japan Limited
Tel: +81 3 5211-3830
(Tokyo, 26 December 2023) Trustar Capital Partners Limited is pleased to announce that it has entered into a strategic investment with Kaneko Group. The CEO of Kaneko Group, President Mr. Takuzo KANEKO, will continue to serve in his management role.
Kaneko Group is a leading company in the recycling industry, providing one-stop services from collection, transportation, and intermediate processing (including re-manufacturing of waste paper) of various materials such as waste paper, plastics and metals, that are produced as sub-products in the course of corporate business activities. The company serves a wide range of customers including large corporate and government nationwide, offering total recycling services from collection to regeneration, tailored to the needs of its customers.
Leveraging its investment track record in this industry, management know-how, and insights into capital markets, Trustar Capital will actively support the growth of Kaneko Group by strengthening its sales organization, management structure as well as actively implementing bolt-on acquisitions, with a goal for a potential future public listing.
These days, as awareness of achieving a sustainable society increases rapidly, addressing ESG has become one of the most critical themes in corporate management. The total recycling services provided by Kaneko Group are increasingly crucial for companies to fulfill their social responsibilities. Trustar Capital will continue to provide further support, contributing to the expansion of the circular economy and, ultimately, the resolution of environmental issues facing society.
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Notes: Anderson Mori & Tomotsune Law Office served as legal advisor, while Deloitte Touche Tohmatsu Group served as the accounting, tax and business advisor on this transaction for Trustar Capital.
About Kaneko Group
Established: 1948
Representative: Takuzo KANEKO, President and CEO
Headquarters: Shizuoka, Japan
Website: https://kaneko-hd.co.jp/
About Trustar Capital Partners Limited
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD 8.7 billion of committed capital. For more information, please visit http://www.trustarcapital.com/.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director, Head of Japan Private Equity
Trustar Capital Partners Japan Limited
Tel: +81 3 5211-3830
McDonald’s Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) announced on 20 November, 2023 that McDonald’s has agreed to acquire Carlyle’s minority ownership stake in the strategic partnership that operates and manages McDonald’s business in mainland China, Hong Kong and Macau.
The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald’s will remain a minority partner while increasing its stake from 20% to 48% ownership.
“Our strategic partnership with CITIC and Carlyle has been extremely successful in growing McDonald’s presence in the region since it began. China is now our second largest market; we’ve doubled our restaurants to more than 5,500 since 2017,” said Chris Kempczinski, McDonald’s President and Chief Executive Officer. “We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest growing market’s long-term potential.”
The business has generated Systemwide sales growth of more than 30% in the market year-to-date since September 2019. Going forward, the partners will continue working together as the brand executes on its Accelerating the Arches growth strategy in the market, working to deliver on a commitment to develop and open new restaurants and foster deeper engagement with customers.
“We very much appreciate the strong partnership we have had with CITIC Capital and McDonald’s Corporation. Together, we transformed the business, accelerating its growth profile and revolutionizing its digital marketing and operational capabilities,” said X.D. Yang, Chairman of Carlyle Asia. “The business has always delivered outstanding results and we wish them every success on their next phase of growth.”
“As McDonald’s China’s controlling shareholder, we are thrilled by McDonald’s Corporation’s continued commitment to our long-term partnership and the China market,” said Yichen Zhang, Chairman and CEO of CITIC Capital and Chairman of McDonald’s China.” As we reach towards our goal of 10,000+ restaurants by 2028, we are more confident than ever in our ability to serve the Chinese consumer with McDonald’s iconic taste.”
The deal is contingent upon customary regulatory approvals and is expected to close in the first quarter of 2024.
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(Tokyo, 19 October 2023) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced today that it has completed the sale of 100% of the shares of Moritex Corporation (“Moritex” or the “Company”) held by its second Japan buyout fund (“Trustar Capital Japan fund”) to Cognex Corporation (NASDAQ: CGNX) (“Cognex”). Trustar Capital has previously announced the agreement with Cognex regarding the transaction on 30 August. Moritex marked the tenth exit for Trustar Capital Japan Partners, which was founded in 2004.
Established in 1973, Moritex is engaged in the development, manufacture and sales of machine vision systems such as high-spec lens and lighting for industrial use, and medical and cosmetic equipment. With its technological advantage of combining lens and light design, Moritex has established a strong customer base in each of its business segments. One of its core business segments, Machine Vision, has built a solid customer base including blue-chip international companies.
Masahiro ITO, Senior Managing Director of CITIC Capital Holdings and Head of Japan Private Equity of Trustar Capital, said: “We are pleased with the sale of Moritex and the work we have built together. Moritex was already a leader in high-end Machine vision lens and lighting solution when we acquired them, but mainly focused on domestic Japanese semiconductor clients. We saw huge potential of them to expand overseas and hence we also acquired their overseas bases which enhanced smoother work with its Japan headquarters, and enlarged their overseas business. We also saw the opportunity to cultivate other applications in the electronics and automotive industries, which had increasing demand for higher precision components and associated automatic inspection.”
“A big part of our early effort was to help them reorganize the multiple companies that were under a Japan-based parent but remained standalone corporate entities for each overseas market. We created a single consolidated entity and simplified its management system, introduced suitable incentive plan, controlled the pricing, and shifted their production base, which greatly improved their cross-border collaboration and profitability.”
“We are proud of the work we have done for our investors and the partnership with Moritex. Bringing in Cognex will definitely create tremendous synergies and enhanced value with their unique brands, technologies, customer base and sales network, material procurement capabilities and other managerial resources, and position them for long-term success.”
Since the investment in January 2015, Trustar Capital led Moritex’s growth by strengthening its business foundation and capturing further growth potential, through setting new business strategy, developing global platform and customer base, and implementing a series of operational improvements. Moritex had achieved transformation focusing on the high value-added products leveraging its distinguished technologies and experiences in machine vision system, and Trustar Capital Group’s global network and resources. Under Trustar Capital’s ownership, Moritex has reinforced its presence in machine vision system market establishing solid positioning in diverse customer base, accelerating expansion to overseas, and achieved strong growth globally as well as significant profitability enhancement through various initiatives.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over $10 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia. For more information, please visit https://www.cognex.com/
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About Moritex Corporation
Established: 1973
Representative: Takao SATO, President and CEO
Headquarters: Kanagawa, Japan
Website: https://moritex.com/index.html
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.6 billion of committed capital. For more information, please visit www.citiccapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited, founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17.6 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
Citic Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director of CITIC Capital Holdings and Head of Japan Private Equity of Trustar Capital
Tel: +81 3 5211-3830
(Tokyo, 30 August 2023) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced that it has agreed to sell Moritex Corporation (“Moritex” or the “Company”) to Cognex Corporation (NASDAQ: CGNX) (“Cognex”). Expected closing of the transaction is in the next few months.
Established in 1973, Moritex is engaged in the development, manufacture and sales of machine vision systems such as high-spec lens and lighting for industrial use, and medical and cosmetic equipment. With its technological advantage of combining lens and light design, Moritex has established a strong customer base in each of its business segments. One of its core business segments, Machine Vision, has built a solid customer base including blue-chip international companies.
Since the investment in January 2015, Trustar Capital led Moritex’s growth by strengthening its business foundation and capturing further growth potential, through setting new business strategy, developing global platform and customer base, and implementing a series of operational improvements. Moritex had achieved transformation focusing on the high valueadded products leveraging its distinguished technologies and experiences in machine vision system, and Trustar Capital Group’s global network and resources. Under Trustar Capital’s ownership, Moritex has reinforced its presence in machine vision system market establishing solid positioning in diverse customer base, accelerating expansion to overseas, and achieved strong growth globally as well as significant profitability enhancement through various initiatives.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over USD10 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia.
Under the new ownership structure, we are confident that the two companies will definitely benefit from tremendous synergies and enhanced value when putting together their unique brands, technologies, customer bases and sales networks, material procurement capabilities and other managerial resources.
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Notes: Mitsubishi UFJ Morgan Stanley served as a financial advisor, Anderson Mori & Tomotsune served as a legal advisor, Deloitte Tohmatsu served as an accounting/tax advisor, and Arthur D. Little served as a business advisor for the transaction.
About Moritex Corporation
Established: 1973
Representative: Takao Sato, President and CEO
Headquarters: Kanagawa, Japan
Website: https://moritex.com/index.html
About Cognex Corporation
Established: 1981
Representative: Robert Willett, President and CEO
Headquarters: Natick MA, United States
Website: https://www.cognex.com/
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.6 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD18.3 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director, Head of Japan Private Equity
Trustar Capital Partners Japan Limited
Tel: +81 3 5211-3830
(Hong Kong, May 11 2022) CITIC Capital Holdings Limited (“CITIC Capital”)’s Real Estate Group announced that it has entered into an agreement with SCPG, a leading commercial real estate investment and asset management operator in China. Under the agreement, SCPG will acquire a 50% interest in the equity tranche of the CITIC JIC – Changsha ID Mall Asset-Backed Securities Scheme and provide operation and management services for the project and to enhance the overall operating capability of the target assets.
On the morning of May 11, CITIC Capital and SCPG signed the agreement. Stanley CHING, Managing Partner and Co-Head of Real Estate Group, Roger ZHU, Managing Partner and Co-Head of Real Estate Group, Lisa WANG, Managing Director of Real Estate Group and Samuel Lu, Managing Director of Real Estate Group, SCPG’s Chairman DING Liye, SCPG’s president WANG Haiwu and other executives attended the signing ceremony together. Witnessed by guests from Hong Kong, Shanghai, Changsha and Wuhan, representatives of the two sides signed a contract online to demonstrate the confidence of CITIC Capital and SCPG in the future development of the ID Mall project and China’s real economy in the context of the epidemic.
Changsha ID Mall is the city’s first large-scale integrated shopping mall with a gross floor area of approximately 120,000 square meters. Since acquiring the mall in 2010, CITIC Capital has been constantly upgrading it and improving its operational efficiency, making Changsha ID Mall a core and iconic commercial project in Changsha’s Wuyi business district, backed by value creation and solid consumer base. In 2017, CITIC Capital issued the first Quasi-REITs converted from USD fund structure in China based on the sound operation and brand franchise of Changsha ID Mall. The REITs was well received by investors, demonstrating strong market recognition of CITIC Capital’s commercial real estate investment and management capabilities. Through this acquisition, SCPG will further establish its foothold in the Changsha market and promote the renewal and upgrade of Changsha ID Mall via its rich experience in operating shopping malls.
Stanley CHING, Managing Partner and Co-Head of Real Estate Group of CITIC Capital said: “CITIC Capital has built a strong partnership with SCPG Group for years, and we have always been exploring ways to collaborate further. We are honored to join hands with SCPG again to continue to enhance the asset quality, operations and consumer experience, and unleash further value and growth momentum for the Changsha ID Mall asset-backed securities scheme, especially in the current epidemic environment.”
Roger ZHU, Managing Partner and Co-Head of Real Estate Group of CITIC Capital said: “CITIC Capital has always been committed to discovering the best assets, and providing diversified and innovative financial services for the best enterprises in China, while attaching equal importance to asset management and capital management. We are confident that SCPG will inject new growth momentum into Changsha ID Mall with its rich experience in operating commercial real estate projects.”
SCPG’s Chairman DING Liye said: “The foundation of domestic real economy is solid and we are optimistic about the potential of commercial real estate industry. The investment in mature asset projects will help to improve the breadth and depth of our commercial network and help us to explore the core regional market. We are confident to provide richer and high-quality service experience for local customers. In the future, Changsha ID Mall will become the first InCity（印象城） in Changsha with stronger integration and connection with Changsha Inreach（长沙印象汇） will be expected to build a new trendy landmark for the young clientele.”
CITIC Capital has a strong conviction in commercial real estate and has established unparalleled resources and a seasoned team. Over the years, the team has built up a wealth of experience in real estate investment management; especially in the field of commercial real estate management and urban renewal, it has formed a mature management model of “investment-asset management-capital market”, realizing a virtuous cycle of financial capital and real estate projects. In the future, the company will continue to actively explore commercial real estate opportunities, drive upgrades and strategic innovation, and create values for investors.
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About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 230 portfolio companies that span 11 sectors and employ over 500,000 people around the world.
About SCPG
SCPG, founded in 2003, has been engaged in investment, development, operation and management of shopping centers with an international vision, and its business spans the whole value chain of commercial real estate. In 2016, SCPG became a member company of Vanke Group, which further boosted its commercial resources, business platforms, and development and management capabilities. As of now, SCPG manages more than 100 projects in more than 50 cities across the country with assets of nearly RMB 50 billion and an area of nearly 10 million square meters in total.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com