Qatar Sovereign Fund to Buy 10% of Major China Mutual Fund Firm, Reuters Says
- Proposal has been submitted for China regulatory approval
- Primavera’s stake worth at least $490 million, report says
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Qatar’s sovereign wealth fund has agreed to buy a 10% stake in China Asset Management Co., one of the nation’s largest mutual fund firms, from private equity company Primavera Capital, Reuters reported.
The Qatar Investment Authority’s proposal has been submitted to Chinese regulators for approval, the report said, citing two unidentified people.