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New Venture Backs Chinese Hedge Funds

Nov 20, 2013
Jing Chen

Citi Securities Futures, China’s biggest investment bank, has launched a fund that will seed new and established hedge fund firms in the country.

Financial Times reported that the newly-established fund has about $330 million in capital that will invest in Chinese hedge funds prompted by the country’s growing interest in the sector as its growing number of billionaires are looking for alternative ways to invest their money.

Citi Securities is no stranger to seeding hedge funds, as it invested $20 million in Hong Hong-based VisionGain Capital in 2008.

Separately, the asset management unit of Chinese brokerage firm Hwabao Securities is launching a similar fund with KKM Capital, a Shanghai-based firm aimed to help Chinese hedge fund managers set up firms.

The Chinese securities regulator is loosening its restrictions on investment activities as six global hedge funds-- Canyon Partners, Citadel, Man Group, Oaktree, Och-Ziff and Winton Capital-- have been granted permission to raise money from Chinese institutions to invest outside of the country for the first time.




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