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

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

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 would open in Beijing next year, he said.

Source: Xinhua