Suning has joined forces with Yunfeng Capital, the private equity firm co-founded by Alibaba founder Jack Ma, committing up to $210m to a fund that is targeting a $2.5bn close.

China-based retail group Suning agreed today to provide up to $210m for a fund being raised by China-based private equity firm Yunfeng Capital with a $2.5bn target, according to a regulatory filing. Suning will provide the money through a wholly-owned subsidiary known as Suning International, and has already committed more than 61.4% of the capital.…

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