BlackRock to close private fund in China after just three years

BlackRock to close private fund in China after just three years

File photo of a BlackRock building in New York June 12, 2009. REUTERS/Eric Thayer

A unit of BlackRock Inc., the world’s largest asset manager, is closing down its private fund business in China after just three years and instead will focus on mutual funds, in a move to meet regulatory requirements.

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