Thursday, 31 July 2014
Last updated 8 hours ago
May 21 2014 | 12:20pm ET
Citadel Investment Group, one of the first six foreign hedge funds permitted to raise money in mainland China, has become the very first win final approval from Chinese regulators.
Citadel (Shanghai) Foreign Investment got its currency-exchange sign-off on March 26 after completing its fundraise, Shanghai authorities said. The Chicago-based firm, like the others to win the first qualified domestic limited partner licenses, had a US$50 million quota.
Such a license allows foreign firms, for the first time, to raise money in yuan from China’s richest citizens. The pilot program will eventually encompass US$5 billion in quotas.
In addition to Citadel, Canyon Partners, Man Group, Och-Ziff Asset Management, Oaktree Capital Management and Winton Capital Management have been awarded licenses.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…