China-focused private equity fund manager DCP Capital has reached a final close for its debut fund with USD2.5 billion in capital commitments, including USD500 million raised through a local RMB-denominated vehicle. Investors in the fund include sovereign wealth funds GIC, Temasek Holdings, and Abu Dhabi Investment Authority and pension funds New York State Teachers Retirement System and Caisse de dépôt et placement du Québec. DCP was founded by two former China-based executives of global alternative asset manager KKR.