On June 30, CRE Alliance Fund I L.P. (“Fund I”), the first overseas consumer and retail sector fund sponsored and established by China Resources Enterprise, Limited (“CRE”), successfully held its first closing ceremony at the China Resources Building in Hong Kong. Fund I is managed by CRE Alliance Management Company Limited (“CRE Alliance”). Two investors, CRE and Great Wall Pan Asia International Investment Co., Limited (“Great Wall Pan Asia”), were closed in Fund I as the first closing investors, with each committing USD 250 million. After the first closing, Fund I will continue to admit renowned large institutional investors, both domestically in the PRC and internationally. Fund I targets to close in USD 1 billion on final closing.

CRE Alliance was sponsored and set up by CRE in 2016, which is a private equity fund management platform focusing on investment in consumer and retail sector. CRE Alliance is backed by China Resources Group’s rich experience in carrying out business transformation over decades as well as abundant commercial resources in the Asia-Pacific region, and intends to invest in industries and enterprises in the consumer and retail sector with clear growth prospect and with resource and brand advantages.

The name of CRE Alliance originates from China Resources Group’s original name when it was founded in 1938. By means of alliance, the fund manager also intends to ally all parties including China Resources, industry leaders, renowned fund managers and institutional investors through various types of co-operations such as joint investments, to utilize the strengths of one another, maximize resources sharing and business synergies and realize long-term superior return while maintaining win-win situation for all parties.

Mr. Chen Lang, deputy managing director of China Resources Holdings and Chairman of CRE, together with representatives from CRE, Great Wall Pan Asia, CRE Alliance and its legal advisor and placement agent participated in the closing ceremony.