Qatar Wealth Fund Becomes ChinaAMC’s Third-Largest Shareholder - Bloomberg
China Asset Management Co. said Qatar Holding LLC became its third-largest shareholder after acquiring a 10% stake, marking the latest instance of Middle Eastern capital flowing into the world’s second-largest economy.
The Chinese company said its original backer Tianjin Haipeng Technology Consulting Co. transferred its stake, which was approved by the China Securities Regulatory Commission, according to a notice.
One of China’s largest asset managers, ChinaAMC’s two other major shareholders are Citic Securities Co., which holds a controlling stake of 62.2%, and Mackenzie Financial Corp., with a 27.8% interest.
ChinaAMC manages $362.4 billion in assets and serves about 300,000 institutional clients, according to its website.
Qatar Holding, a subsidiary of the sovereign wealth fund Qatar Investment Authority, is an active investor in some of the world’s biggest funds and banks.
Middle East funds have been investing in Chinese companies. Saudi Arabia’s Public Investment Fund invested $2 billion in Lenovo Group Ltd. last year. Abu Dhabi Investment Authority and Mubadala participated in an $8.3 billion deal for Dalian Wanda Group’s shopping mall management unit.
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