AGRICULTURAL BANK DEBUTS PRIVATE EQUITY ASSET CUSTODY
AsiaInfo Services, January, 2008
AsiaInfo Services 01-15-2008 Agricultural Bank Debuts Private Equity Asset Custody SUZHOU, Jan 15, 2008 (SinoCast via COMTEX) -- The Agricultural Bank of China, one of the nation's big four state banks, just signed an agreement with Suzhou Shengshang United Investment Center on custody of private equity fund. So far the Agricultural Bank of China have over CNY 600 billion assets under custody.
The asset custody business enables the lender to access into public equity or private equity investments, setting up a correlation between traditional banking services and emerging capital market operations. A Suzhou Shengshang executive said it will invest in equities, stakes and other related assets. The investment center's first private equity fund has raised CNY 542...
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