Thursday, 29 January 2015
Last updated 16 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…