Qatar fund purchases 22% stake in CITIC
Source: Bloomberg News |
August 23, 2012, Thursday
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Print Edition
Print Edition
Qatar Holding LLC, the investment arm of the nation's sovereign-wealth fund, has bought a 22 percent stake in Chinese private equity firm CITIC Capital Holdings Ltd as the Middle Eastern country accelerates spending on overseas acquisitions.
Qatar Holding bought the shares in Citic, part owned by China Investment Corp, for an undisclosed amount, according to an e-mailed statement yesterday from the fund. The private equity firm, founded in 2002 and based in Hong Kong, oversees more than US$4.4 billion, including in funds focused on property.
Citic Capital has raised money from investors, including Singapore's state-backed Temasek Holdings Pte. In November, the company said it raised US$225 million in the first closing of its fourth real estate fund.
After the Qatar investment, Citic Pacific Ltd and Citic International Financial Holdings will together hold a 43 percent stake in Citic Capital. CIC, China's sovereign wealth fund, will own 31.1 percent, according to the statement.
Qatar Holding bought the shares in Citic, part owned by China Investment Corp, for an undisclosed amount, according to an e-mailed statement yesterday from the fund. The private equity firm, founded in 2002 and based in Hong Kong, oversees more than US$4.4 billion, including in funds focused on property.
Citic Capital has raised money from investors, including Singapore's state-backed Temasek Holdings Pte. In November, the company said it raised US$225 million in the first closing of its fourth real estate fund.
After the Qatar investment, Citic Pacific Ltd and Citic International Financial Holdings will together hold a 43 percent stake in Citic Capital. CIC, China's sovereign wealth fund, will own 31.1 percent, according to the statement.
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