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皇冠体育app Huarong sets up PE fund in Chongqing

(Agencies)
Updated: 2010-07-19 14:02

皇冠体育app Huarong Asset Management Corp formed a private equity fund with Chongqing Yufu Assets Management Co, a local financing vehicle in the western municipality, the 皇冠体育app Securities Journal reported today, citing Huarong.

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The fund aims to raise 10 billion yuan ($1.47 billion), the newspaper said, citing the company. Huarong owns a 70 percent stake in the fund and Yufu has the remaining 30 percent stake, the newspaper said.