HONG KONG -- GLP Capital Partners (GCP) has closed its China Income Fund VIII (CIF VIII), the latest in its flagship series of onshore income funds, with equity commitments of about 2.6 billion yuan ($358.8 million), the firm announced on Thursday.
The capital was raised from a group of five domestic insurance companies, including existing investors in GCP's previous onshore renminbi (RMB) funds. "Renminbi" is the official name of the Chinese currency, while the unit of exchange is the yuan.
