This content is from: Innovation

HK’s Choi Family Backs Out Of RAB Deal

Hong Kong’s billionaire Choi family has dropped plans to buy funds from RAB Capital.

Hong Kong’s billionaire Choi family has dropped plans to buy funds from RAB Capital, Financial Times reports. The move comes after the London-based hedge fund manager’s investment vehicles, that Choi family intended to buy, suffered steep losses.

The firm’s $250 million Energy Fund fell 17.2% and the Special Situations Fund dropped 17.5%. Sunwah Group, a conglomerate whose business interests include seafood, real estate and technology, owned by the Choi family, intended to form a new large-scale alternative asset management business in London through the acquisition.

Click here for the story from Financial Times.

Related Content