Mergers & Acquisitions / Joint Ventures

Value Partners acquires stake in mainland firm

by

Cheah Cheng Hye
Alternative asset management firm Value Partners is acquiring a 49% stake in mainland China asset management company KBC Goldstate for CNY40.5 million ($6.4 million), boosting its bid to penetrate the huge Chinese market for its various investment products.

It acquired the stake from KBC Asset Management after the China Securities and Regulatory Commission approved the transaction, turning the firm into the first indigenous Hong Kong asset management firm to establish an asset management joint venture in the mainland.

KBC Goldstate will be renamed Value Partners Goldstate Fund Management. The joint venture is