Ant Financial’s $10 bln fundraise attracts investors: Financial Times

Ant Financial’s $10 billion fundraise is oversubscribed and has attracted investors including Carlyle Group, General Atlantic, Silver Lake Partners, Sequoia Capital China and Warburg Pincus, sovereign wealth fund Temasek, and institutional funds including Canadian Pension Plan Investment Board and BlackRock, the Financial Times reported. The fundraise values Ant Financial at $150 billion, the story said. Investors in Ant’s $10 billion fundraising will receive convertible instruments rather than equity, the story said. The instruments will convert into shares when the company lists, the FT said.