November 15, 2018 / 3:46 PM / 4 months ago

HSBC, CIC in talks on 1 bln stg fund to invest in Britain

LONDON, Nov 15 (Reuters) - HSBC and China Investment Corp are in talks to create a fund for the Chinese sovereign wealth fund to invest in companies in Britain that have business links with China, HSBC said on Thursday.

The fund would be managed by London-based Charterhouse Capital Partners, which is in talks with CIC and HSBC, the British bank said.

The three “are in exclusive discussions to create a fund to invest in high-quality and growing UK companies with development opportunities in China,” HSBC said.

The Financial Times earlier reported the fund could be worth 1 billion pounds ($1.28 billion).

CIC has set up similarly structured funds elsewhere in the world, including in the United States with Goldman Sachs and in Japan with Nomura.

$1 = 0.7818 pounds Reporting By Lawrence White. Editing by Jane Merriman

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