Macquarie and China Everbright team up to raise $1.5 billion

In a test of whether the supposed return of investor appetite will translate to actual allocations, Macquarie Group and China Everbright are hoping to raise $1.5 billion for two funds that will invest in infrastructure projects in Greater China.

David Russell, Macquarie's Hong Kong-based head of private equity for Asia and Greater China, is in the UK to help generate the buzz needed to drum up interest in the two funds. Europe is by no means the sole target, as the first of the two funds is US-dollar denominated and targets non-retail investors -- more likely to be institutional -- outside of China. That covers the whole gamut of possibilities outside of...