China-focused private equity firm Vision Knight Capital has closed Vision Knight Capital China Fund II at its hard cap with US$550 million in capital commitments. The fund, which will make investments in China’s retail, consumer internet and e-commerce sectors, received commitments from a mix of global institutional investors, including sovereign wealth funds, pension plans, endowments, foundations, diversified financial institutions and family offices. Hong Kong-focused telecommunications services company PCCW committed US$5 million to the fund.