June 8, 2018 / 5:17 PM / 9 days ago

CPPIB to invest $600 million in Ant Financial's unit

(Reuters) - Canada Pension Plan Investment Board said on Friday it will invest $600 million in a unit of Jack Ma’s Ant Financial Services Group, operator of China’s biggest online payment platform.

FILE PHOTO: Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang

CPPIB’s investment is part of Ant’s $14 billion fundraising announced on Friday.

    Ant Financial, spun off from Alibaba Group Holding Ltd (BABA.N) before the e-commerce firm’s 2014 listing, has played a major role in shaping China’s financial technology landscape.

    Reporting by Parikshit Mishra in Bengaluru; Editing by Shailesh Kuber

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