Fosun Group, Prudential Financial Sign Memorandum To Form PE Fund

Fosun Group and Prudential Financial Inc. signed a memorandum of strategic cooperation to form a private equity fund. Insurance and financial service company Prudential is looking to invest $500 million in the fund. Fusom Group, which is a non-state-owned conglomerate in China, will serve as general partner and take responsibility for investment decisions. It looks to invest $100 million.

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