On Monday, Mohammed Saif Al-Sowaidi – who took the helm of the Qatar Investment Authority (QIA) in November – met with key stakeholders, including Citic Securities and ChinaAMC, as part of an effort to speed up regulatory approvals for the deal, which has been in progress for two years.
“The talks went smoothly and the stakeholders are supportive of the deal,” one source said.
QIA did not reply to a request from the Post for comment.
In May 2023, the QIA applied to purchase the stake from Primavera Capital for an undisclosed price and the application was formally accepted by the China Securities Regulatory Commission the following year.
The agreement between QIA and Primavera has been signed, but final approvals from Chinese regulators are still pending.
The deal, if approved, would make QIA the third-largest ChinaAMC shareholder behind Citic Securities and Mackenzie Financial Corporation. Beijing-based ChinaAMC was established in 1998 and it is the nation’s second-largest mutual fund firm with 1.17 trillion yuan (US$159.2 billion) in assets under management at the end of 2024.
