Nomura Holdings, Daiwa Securities, Mitsubishi UFJ, Sumitomo Mitsui Financial and Mizuho Financial will aim to raise up to $1.78bn for the fund, in partnership with China Investment Corporation.
Five Japan-based financial services groups agreed on Friday to form a fund in partnership with sovereign wealth fund China Investment Corporation (CIC) reported by Bloomberg to be up to $1.8bn in size.
Financial holding group Nomura Holdings, brokerage Daiwa Securities and banks Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group signed a memorandum of understanding (MOU) to set up a management entity for the fund.
The parties intend to raise between ¥100bn and ¥200bn ($890m to…
