The insurance firm has partnered China International Capital Corporation on a vehicle that will invest in companies situated in China's Bay Area.
Taiping Financial Holdings, a subsidiary of China-based, state-backed insurance firm Taiping, is joining investment bank China International Capital Corporation’s CICC Capital unit to form a $1bn investment fund, DealStreetAsia reported today.
TP-CICC GBA Investment Master Fund will invest in companies located in China’s Bay Area, which encompasses 11 metropolitan centres including Guangzhou, Shenzhen and Hong Kong, according to a company statement cited by DealStreetAsia.
Areas in which the vehicle will invest include financial, healthcare, consumer and insurance technology providers as…
