HONG KONG, March 8 - Chinese private equity firmPrimavera Capital Group, an early investor in billionaire JackMa's Ant Group, is raising a new U.S. dollar-denominated fund ofup to $5 billion, two people with direct knowledge of the mattertold Reuters.

The firm, an avid investor in China's tech startups, istargeting $4 billion for its fourth dollar fund, with a hard capat $5 billion, said the people, who declined to be identified asinformation related to the fundraising is confidential.