Prudential Financial and Fosun to Create $600m China-Based Private Equity Fund

Prudential Financial, Inc. (NYSE:PRU) and investment company Fosun Group have signed an agreement to create a $600m private equity fund for the Chinese marketplace.
The Pramerica-Fosun China Opportunity Fund, L.P. will focus on investing in a diversified group of industries and asset classes, including public and non-public companies based in China and companies with significant revenue or other business connections to China.
Prudential will invest up to US$500m in the fund. Fosun, which will take primary responsibility for investment decisions, has committed US$100m.

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