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Power Corp.’s investment arm closes Shanghai office as it shutters China-focused fund

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According to recent filings, Power Sustainable has ‘realigned’ its strategies and liquidated the Power Sustainable China portfolio

has shut down its investment management office in Shanghai as it looks to redeploy capital to more profitable opportunities.

However, most of those assets – about $500-million – were proprietary commitments from Power Corp., as the fund gained little traction with third-party investors. “Power Sustainable is focused on growing its alternative asset management business primarily through fundraising third-party capital and will reallocate resources to other strategies which are well positioned to raise capital and meet investors’ needs,” the company noted during its most recent earnings presentation.

 

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