Wednesday, 17 July 2024
"One Belt One Road" fund signing ceremony held in HK; China Baoli appointed investment manager
Hong Kong -- The 'One Belt One Road' Investment Fund (the "Fund") & Strategic Cooperation Signing Ceremony, was held today at the Hong Kong Four Seasons Hotel. China CYTS Industrial Development Co., Ltd. ("China CYTS"), the Fund Sponsor, signed a strategic cooperation with RT-Business Development LLC ("Rostec"), Russia's state-owned industrial and technologies company, bringing bilateral technological and investing cooperation to a new level. In addition, China CYTS appointed China Baoli Technologies Holdings Ltd. ("China Baoli") as designated investment manager of the Fund.
China CYTS acted jointly with another large state-owned enterprise as Sponsor to launch the Fund, which will focus on industrial and new-industry investment projects in countries and regions connected to the 'Silk Road Economic Belt' and '21st Century Maritime Silk Road', and aims at capitalizing on investment opportunities related to the "One Belt One Road" national strategy.
As the Fund's designated investment manager, China Baoli will assist China CYTS in the completion of fund raising and the Fund's day-to-day management and investment operations. The Fund targets at an initial size of US$4 billion, of which China CYTS will contribute US$500 million as a subordinated limited partner.
Re-disseminated by The Asian Banker
