Date
18 August 2017

China-backed hedge fund shut down, WSJ says

PCA Investments, a hedge fund with financial backing almost entirely from sovereign-wealth fund China Investment Corp., closed down last week, or less than three years after it was launched, the Wall Street Journal reported Sunday, citing people familiar with the matter. PCA, founded by Hang Hu and former Merrill Lynch executive Wing Lau in 2011, had operations in Hong Kong and Beijing, and was estimated to be managing more than US$500 million. The reason for the fund’s closure wasn’t known.

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