Norway wealth fund, Och-Ziff among investors in Cinda IPO-sources
HONG KONG Nov 24 (Reuters) - A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday.
Cinda, one of China's four bad debt managers, is seeking to raise $2.5 billion and the offer has attracted interest from distressed debt investors, hedge funds to China's insurance giants. Together, the so-called cornerstone investors would buy about 45 percent of the initial public offering (IPO), which is set to be Hong Kong's biggest this year.
China Life Insurance Co and Och-Ziff Capital are each committing $200 million, while Norges Bank Investment Management has pledged $150 million and Temasek Holdings unit Farallon Capital Management has agreed to buy $100 million, people familiar with the matter told Reuters.
Sources declined to be identified as the information is not public yet. The companies mentioned in this report were not immediately reachable for comments.
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