CGN Private Equity Fund Management Company has reached a second close for CGN Capital Partners Infrastructure Fund III with CNY3.2 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China and People’s Insurance Company of China. The fund is sponsored by China-based nuclear power operator CGN Group and managed by JIDA Capital, an investment and advisory firm owned by New Zealand-based Morrison & Co. The fund will target operating assets in China’s wind, hydro and solar power sectors.