CLSA RMB fund JV aims to start investing 3Q10
Hong Kong-headquartered brokerage firm CLSA's China asset management joint venture aims to close on RMB10 billion ($1.5 billion) for its new energy and new materials-focused fund, according to Shi Derong, chairman of state-owned Shanghai Guosheng Group Co., which owns half of the JV entity, Guosheng CLSA (Shanghai) Industrial Investment Management.
The JV was announced in August last year by the two firms. Its investment sectors are include wholesaling/retailing and heavy machinery. Derong noted that the fund expects to start investing in September...
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