Fund JVs could follow SocGen’s mooted China exit
The French group’s reported move to exit its mainland fund joint venture comes as other foreign shareholders review their onshore build-outs amid rising China risks.
Societe Generale’s reported departure from its mainland fund joint venture appears to be down to a strategic shift by the French financial group. But it could be followed by other foreign firms exiting their JVs too, as China’s economy slows and its fund industry opens.
The French group is reportedly seeking to offload its 49% stake in Shanghai fund joint venture Fortune SG Fund Management to US-based private equity firm Warburg Pincus. It is holding the JV via its subsidiary Lyxo…
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