Warburg Pincus, a global private equity firm focused on growth investing, has acquired a 49% stake in Fortune SG Fund Management, a Shanghai, China-based asset management firm.
The seller in deal, whose amount was not disclosed, was Societe Generale.
Established in 2003 by Huabao Trust, a subsidiary of Baosteel Group, and Societe Generale, and led by Helen Xiaoyi Huang, Chief Executive Officer, Fortune offers a wide range of products and services, including domestic public equity fund products, overseas investment fund products and wealth management under separately managed accounts (SMAs).
As of June 30, 2017, Fortune managed 57 public offering funds, with an AUM of RMB122.5 billion with the largest listed money market fund and the largest QDII listed fund in China, as well as the largest CTA (Commodities trading Advisory) fund.
It is also the largest ETP (exchange traded products) provider in China.
FinSMEs
11/09/2017