Chinese investment company Fosun Group and global insurance and financial services firm Prudential Financial (PFI) are to to establish a private equity fund, which will be the single largest investment fund supplied to a third party management corporation in PFI’s 135-year history.
According to the agreement, PFI, as a limited partner is looking to invest USD500 million in the fund, while Fosun, as a general partner will take responsibility for investment decisions and is looking to invest USD100 million.
“The cooperation is based on optimism about the economic prospects for China, as well as the common investment philosophy between PFI and Fosun," says Mark Grier, vice0chairman for PFI. "We trust in Fosun’s investment ability, industrial base and understanding of local markets. As one of PFI’s most important strategic partners, Fosun will play a key role in PFI’s China strategy and business development in the future.”
