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Sovereign Wealth Funds Briefing - Categorized | Investment

Hopu said to invest at least $400 mln in Chinese insurer

Posted on 18 December 2009

From Bloomberg: Hopu Investment Management Co., the China-focused fund backed by Singapore’s Temasek Holdings Pte, bought at least $400 million of stock in China Pacific Insurance (Group) Co., said three people familiar with the matter.

The private-equity fund bought about 13 percent of the $3.1 billion of shares China Pacific Insurance and a shareholder sold yesterday, the people said, asking not to be identified because the matter is confidential. China’s third-biggest insurer sold stock in Hong Kong at HK$28 apiece………………………………..Full Article: Source

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