Blackstone’s China unit registered under QDLP program to raise funds for overseas investment

 

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Blackstone’s newly established China unit has received regulatory approval to raise funds that will be invested overseas.

Blackstone registered a fund management unit with the Asset Management Association of China under the qualified domestic limited partnership (QDLP) programme, a notice from the regulator showed.

The unit, established in March, has seven full time employees, including five fund professionals, the notice said.

The QDLP programme allows foreign and domestic fund managers to raise money from Chinese high-net worth individuals and institutions which is invested overseas.