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

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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Power Corp. reports net earnings of $709 million in first quarterPower Corp. of Canada says its net earnings for the first quarter were $709 million, up from $313 million a year earlier.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Power Corp. reports net earnings of $709 million in first quarterMONTREAL — Power Corp. of Canada says its net earnings for the first quarter were $709 million, up from $313 million a year earlier. The Montreal-based...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »