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Sovereign Wealth Funds Briefing - Categorized | Investment

Chinese fund may help Branson finance bid for Northern Rock

Posted on 22 September 2011

Chinese Investment Corporation, a $200-billion state-owned sovereign fund, is said to be in talks with Richard Branson’s Virgin Money to partly bankroll the UK financial institution’s bid to acquire Northern Rock, a British bank taken over by the government there in 2008.
If the deal between CIC and Virgin Money is agreed, it will be the first major investment from China in the British banking sector. CIC will also be joining a group of investors — they include US private equity firms Carlyle and General Atlantic Partners and the Universities Superannuation Scheme, Britain’s second-biggest pension fund — which have agreed to part-fund Virgin Money’s retail banking expansion in the UK……………………………………….Full Article: Source


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