SHANGHAI (Reuters) – China International Capital Corp (CICC), the country’s biggest investment bank, and government-owned Shanghai International Group (SIG) are setting up a private equity venture that will manage up to 20 billion yuan ($2.9 billion), a senior CICC executive said on Wednesday.
The new venture, to be named Golden Partners Capital, is aiming to raise 8 billion yuan for its first fund, which will mainly invest in financial institutions such as fund management firms, brokerages and banks, Bei Duoguang, CICC’s investment banking head told Reuters.
