China Cinda Asset Management Co. has lined up 10 cornerstone investors to take up 44 percent of its proposed US$2.46 billion initial public offering, the Wall Street Journal reported on Sunday, citing people familiar with the deal. New York-based Och-Ziff Capital Management Group LLC, which has a strong focus on distressed debt, and China Life Insurance Co. are taking shares worth US$200 million each, the sources were quoted as saying. Norges Bank Investment Management, Norway’s sovereign-wealth fund, is said to be investing US$150 million. Three other investors, including San Francisco-based Farallon Capital Management LLC and Chinese fund Rongtong Capital Management Co. are taking US$100 million of shares each, according to the report.
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