29.09.2008 - Abu Dhabi investment house eyes $1.5 bn China fund
From Economictimes.com: Abu Dhabi Investment House, a Gulf Arab bank, is planning a $1.5 billion private equity fund to invest in real estate and manufacturing in China with a Chinese partner, a senior executive said on Sunday. An agreement to launch the fund will be signed within two months, said Rashad Janahi, ADIH's managing director. The Gulf firm is eyeing China at a time when a raft of tightening measures have chilled its real estate market, with sluggish transactions and falling prices in major cities. China's manufacturing sector, especially export-oriented and labour-intensive firms, are being hit hard by weakening demand from the United States as well as Europe. However, Janahi said: "We find the correction is an opportunity." Janahi, speaking to a Chinese newspaper on the sidelines of the World Economic Forum in the northern Chinese port city of Tianjin, did not say how much ADIH would invest. Nor would he name the Chinese partner..... Full Article: Source
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