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.
Source: News Formal (newsformal.com)
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