Insurance firms are directly investing more in private equity in China, and their lower return expectations can help them win deals, say general partners.
Qatar Investment Authority’s $10 billion joint-venture fund deal with Citic Group reflects both its new, more strategic approach and its old fondness for making a splash.
The securities regulator has instituted proceedings against five former executives of Hong Kong conglomerate Citic, alleging market misconduct conducted in 2008.
Authorities are prodding Citic Securities, which owns both fund companies, to merge them in order to comply with laws on ownership, creating the first such case in China's mutual-funds industry.