European private equity firm Apax Partners will enter the Chinese market by opening an office in Shanghai later this year, the company said on Thursday.

Apax wants to increase Asia-based investments to a third of its global portfolio, which totals US$40 billion, Apax CEO Martin Halusa told reporters.

India and China will be the main investment targets in Asia.

Investments in China would focus on technology and telecommunications, retail and consumer business and financial and business services.

Another office will open in Beijing next year, he said.

(China Daily November 7, 2008)