China Life Insurance Plans Two Investment Funds

MT Newswires Live01-23 21:04

China Life Insurance Company (HKG:2628) said it planned to form a limited-partnership investment fund with Pudong Venture Capital, Guotou Leading, and China Life Infrastructure, focused on growth-stage enterprises and strategic emerging industries, according to a Hong Kong bourse filing Friday.

The fund, which will also include Chuangzhi Herui and Lingzhiying Shanghai, will have a total capital of 5.05 billion yuan, of which the company plans to fund 4 billion yuan.

China Life Capital will serve as the manager of the partnership, which is expected to be executed by June 30, the firm said.

Meanwhile, in a separate Hong Kong bourse filing, the firm said it planned to form another limited-partnership investment fund with its associate China Life Qiyuan, focused on the senior-care real estate business.

The fund will have a total capital of 8.5 billion yuan, of which the company plans to fund 8.49 billion yuan.

The firm said it expects to execute an agreement by Sept. 30.

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