Citadel, Man Among First Foreign Hedge Funds To Win China License

Sep 13 2013 | 12:35pm ET

Citadel Investment Group, Man Group and Och-Ziff Asset Management will be among the first foreign hedge funds permitted to raise money in mainland China.

The three industry giants are among six hedge funds to win quotas as part of Shanghai's new qualified domestic limited partner program, allowing them to raise yuan, the 21st Century Business Herald reports. Each fund had been granted a US$50 million quota; the entire program will have a US$5 billion quota.

Also winning licenses are Canyon Partners, Oaktree Capital Management and Winton Capital Management.

QDLP will allow China's richest citizens to invest in foreign hedge funds for the first time.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.