Julius Baer-Backed Firm GROW Seeks Stakes in China Hedge Funds
- Aims to raise initial $50 million from local, global investors
- In talks with several local funds with various strategies
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A Chinese investment firm backed by Julius Baer Group Ltd. and Navigator Global Investments Ltd. is seeking to buy stakes in domestic hedge fund managers, betting on the future expansion of the industry in the world’s second-largest economy.
GROW Investment Group plans to raise an initial $50 million as early as the fourth quarter, said William Ma, global chief investment officer of the Shanghai-based company. It’s in talks with domestic and international investors who are either seeking stable cash flows from such holdings or hoping to tap the growth prospects of Chinese hedge funds, he added.