Chinese investment banking giant Citic Group has been revealed as the major investor behind a new China-focused hedge fund.
Citic Securities International is the owner of a 19% strategic stake in VisionGain Capital, Asian Investor reports. When VisionGain was established last year, founders Tina So and Ye Xiang indicated that a major Chinese financial institution would own a large chunk of the firm.
The VisionGain stake is not Citic’s first foray into the hedge fund world: In 2002, two of its subsidiaries set up Citic Capital, a US$1.6 billion alternative investments manager.
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