Haitong seeks to draw more of the nation’s growing ranks of multi-millionaires to its wealth management business.
At least 4 out of 8 banks have decided not to renew credit and don’t intend to extend fresh loans.
The firm has attracted almost $60 million in the series A round
WeWork’s expansion in HK comes as soaring office rents have pushed some financial firms, hedge funds out of the financial district.
The company operates a brokerage and a healthcare business.
China UCF Group Co., the conglomerate led by businessman Zhang Zhenxin, is backing the acquisition of Hong Kong Life Insurance Ltd. in a deal valuing the insurer at HK$7.1 billion ($914 million). Hong Kong Life’s owners, including Chong Hing Bank Ltd. and Oversea-Chinese Banking Corp., agreed to sell their holdings… Read more »
UCF is in late-stage discussions with Hong Kong Life’s owners.
It is in talks with “multiple” financial-services companies.
The EPF is constantly on the lookout for property assets in the U.K. as other investors seek to exit after the country voted to withdraw from the European Union. The fund, which has a U.K. property portfolio of over $2.6 billion, is keen to acquire real estate assets in the logistics and health-care sectors.
The fund allows people on the mainland to tap assets overseas, with investments starting from $150,000. KKR & Co. and Blackstone Group LP are among the partners for the product.