First China-backed US financial firm announced

HuaMei Capital Company, the first US financial services firm to be partly owned by Chinese interests, was unveiled Wednesday, the Financial Times reported. The Beijing- and Chicago-based joint venture will offer risk management and private equity investment services for investors, including Chinese companies with the authority to invest offshore under the qualified domestic institutional investor scheme. The founders include former Illinois senator Adlai Stevenson, former chairman of Chicago Mercantile Exchange Leo Melamed and China Merchants Securities Holdings. A second office will be set up in Purchase, New York.