24 September 2014
Clifford Chance advises Khazanah on strategic investment in China Huarong Asset Management
Clifford Chance has advised Khazanah Nasional Berhad ("Khazanah") on its strategic investment in China Huarong Asset Management Co., Ltd. ("China Huarong") via its wholly-owned investment entity. China Huarong is the largest assets management company in China with total assets of RMB 400 billion. Along with Khazanah, China Huarong has introduced seven other strategic investors in this round of strategic investment, including China Life (an existing shareholder of China Huarong), Warburg Pincus, CITIC, CICC, COFCO, FOSUN and Goldman Sachs. The eight strategic investors (including Khazanah) invested a total of RMB 14.543 billion (approximately US$2.4 billion), accounting for 20.98% of China Huarong's enlarged share capital.
The transaction was co-led by Beijing corporate partner Terence Foo and Hong Kong capital markets partner, Fang Liu and was supported by Beijing senior associate Zhang Hong and associate Shi Zhonghua.