Monday, 26 September 2016
Last updated 7 min ago
Aug 31 2011 | 1:47pm ET
The US$3 billion hedge fund set up last year by Singapore's sovereign wealth fund joined its parent in a consortium to buy half of Bank of America's stake in China Construction Bank.
Seatown Holdings and Temasek Holdings were part of a group that included Chinese buyers. Temasek, Singapore's massive sovereign fund, already owned about 6.4% of CCB before the deal.
BofA sold 5% of CCB on Monday for about US$8.3 billion.