Fullerton and SBI unite to hunt for cheap bank stocks
The joint fund has an initial commitment of $60 million and will focus on financial institutions outside of Japan.
Singapore-based Fullerton Fund Management and Japanese venture capital firm SBI Holdings have jointly set up a fund that will invest in Asian financial companies.The fund has an initial commitment of $60 million, with Fullerton and SBI Holdings contributing $30 million each. The fund will mainly target listed non-Japanese financial institutions that have become fundamentally undervalued due to the sell-off in stock markets caused by the US credit crisis.The partnership is in line with…
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