Hong Kong-based Value Partners' CEO sees its purchase of a stake in the Chinese fund house as a springboard for its mainland business, but acknowledges the challenges it faces.
The firm is hopeful it will submit an application for a mutual fund JV this year. It has just launched a private equity JV as it seeks to build a track record in the country.
Is ICBC Credit Suisse to be the last of the great bank joint-venture deals in China? With uncertainty looming over the renewal of bank JV licence rules, such partnerships may soon become an endangered species.