KKR, TPG To Buy Morgan Stanley Chinese I-Bank Stake

Dec 2 2010 | 2:32pm ET

A pair of private equity firms will buy the bulk of Morgan Stanley's stake in the first Chinese-overseas investment bank and one of China's largest investment banks.

Kohlberg Kravis Roberts and TPG Capital will each buy about 10% of China International Capital Corp. Morgan Stanley will sell the rest of its 34.3% stake to Great Eastern Holdings and Singapore's sovereign wealth fund.

Morgan Stanley's stake in CICC is valued at $1 billion.

The U.S. bank invested just $35 million in CICC at its launch 15 years ago. The Chinese government allowed Morgan Stanley to invest in exchange for offering its expertise in setting up the country's first investment bank. Morgan Stanley gave up management control of the bank 10 years ago.


In Depth

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.