CGN Private Equity Fund Management Company has reached a third close for CGN Capital Partners Infrastructure Fund III with CNY3.3 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Post Savings Bank of China, China Cinda Asset Management, China Huarong Asset Management and People’s Insurance Company of China. Three Gorges Capital, a unit of state-owned power company China Three Gorges Corporation, committed CNY100 million (approximately US$14 million) to the fund as part of the third close. The fund plans to invest in operating assets in China’s wind, hydro and solar power sectors and is targeting a CNY5 billion (approximately US$724 million) final close in the first quarter of 2017.