First International Hedge Fund

The First International Hedge Fund to Raise Fund in China

Ken Griffin’s international hedge fund institution based in Chicago, Illinois, Citadel LLC, is the first international hedge fund to complete fundraising from Chinese wealthy individuals and companies through a local unit.
Citadel (Shanghai) Foreign Investment won regulatory approval for currency exchange on March 26, marking the first qualified domestic limited partner, or QDLP, to have successfully completed fundraising in China, according to a statement from the Shanghai government’s information office.
China’s leaders have pledged to promote freer movement of capital in and out of the country and make the exchange rate more market-based for investment purposes. Shanghai started the QDLP program last year to allow international hedge funds to raise capital in the local currency in China for overseas investments, aiding the government’s experiment with capital account convertibility and advancing its plan to build Shanghai into a financial center.
Source: Bloomberg

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