China-focused private equity firms are struggling for new cash, hit by increased skepticism among U.S. pension funds and endowments about the growing political and market risks of Asia¡¯s largest economy.
In a sign of a potential pullback, Harvard University¡¯s endowment is considering tapering its investments in China, according to people familiar with the matter, who asked not to be named discussing private information.
A pension fund for Pennsylvania state employees hasn¡¯t committed new cash to Chinese private equity funds in the past 12 months, while Florida¡¯s pension system has halted new investments in China as it assesses the risks.
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