Shanghai has introduced a program to allow certain overseas investors to make private equity investments in China, Reuters reported. Through the Qualified Foreign Limited Partner (QFLP), the Shanghai government hopes to "attract quality, long-term overseas capital, boost domestic investment, and promote the development of a local private equity market," it said in a statement on […]
Category: Investment
The city of Wenzhou, Zhejiang has introduced a pilot program to allow residents to invest up to US$200 million a year overseas, the Wall Street Journal reported. The Wenzhou Foreign Trade and Economic Cooperation Bureau said individual residents will not be permitted to invest more than US$3 million in a single project, and will be […]
US private equity firm Carlyle Group raised a total of US$1.79 billion through the sale of part of its stake in China Pacific Insurance (601601.SH, 2601.HK), the Wall Street Journal reported, citing people familiar with the deal. Carlyle sold 415.2 million shares, representing 17.9% of China Pacific’s Hong Kong-listed shares, at HK$33.45 (US$4.30) per share, […]
Allianz SE (ALV.ETR) said it has purchased H-shares in China Pacific Insurance (601601.SH, 2601.HK) from Carlyle Group for US$855 million, Bloomberg reported. The purchase gives Allianz 240 million shares in the insurer, 10.4% of the company’s H-shares, and 2.4% of its total outstanding shares. Allianz had earlier invested US$150 million in China Pacific in December […]
China Investment Corp (CIC), the country’s sovereign wealth fund, is expanding its US real estate interests, having helped refinance a Manhattan office tower co-owned by Carlyle Group, Bloomberg reported. CIC and US firm AREA Real Estate Finance Corp bought an unspecified preferred equity stake in the building, which is headquarters to Polo Ralph Lauren Corp. […]