Chinese financial institution GF Securities has become a minority shareholder in Hong Kong fund manager Value Partners.
GF Holdings, a wholly-owned subsidiary of GF Securities has purchased a 20.20% stake in Value Partners from two of its unnamed former shareholders.
According to GF Hong Kong’s chief executive Charles Lin, the deal will “sharpen our competitive edges in wealth and asset management”.
It is also in line with the firm’s global expansion plans, said Lin.
For Value Partners, the deal will increase its reach to investors in mainland China, especially the Greater Bay area, and also strengthen its investment capabilities across different asset classes in China, according to Dato’ Seri Cheah Cheng Hye, co-chairman and co-chief investment officer at Value Partners.
No financial details of the transaction were disclosed.
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