Qatar Buys 22% Stake In China’s CITIC Capital

CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.

CITIC Capital Holdings Ltd said on Wednesday a unit of Qatar’s sovereign wealth fund has subscribed to new shares in the Chinese investment firm, equivalent to a 22 per cent stake.

CITIC Capital, partly owned by China’s sovereign wealth fund, did not give financial details of the investment by Qatar Holding LLC, a unit of Qatar Investment, in its newly issued shares.

“Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, its significant backing will strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China,” CITIC Capital’s chief executive, Yichen Zhang, said in a statement in English.

CITIC Capital’s shareholders include China’s sovereign wealth fund, China Investment Corp, and Chinese financial conglomerate CITIC Group.

Founded in 2002, CITIC Capital manages over $4.4 billion of capital from a diverse group of international institutional investors.