Fund launches & closures

Value Partners starts lending business in Chengdu

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Hong Kong-headquartered Value Partners Group is establishing a lending business in Chengdu, a city in China’s Sichuan province. The group’s first venture into financial services in the mainland will be capitalised at CNY300 million (US$46.9 million), of which CNY270 million will be contributed by VP’s wholly-owned subsidiary Brilliant Star Capital, translating into a 90% stake in the joint venture.

Chengdu GT Emerging Industries Investment is wholly-owned by Chengdu Industry Investment Group Co, an investment holding company controlled in turn by the Chengdu State-owned Assets Supervision and Administration Commission (Chengdu SASAC). Chengdu GT Emerging Industries is contributing the balance