LONDON (Reuters) – HSBC <HSBA.L> and China Investment Corp are in talks to create a fund for the Chinese sovereign wealth fund to invest in companies in Britain that have business links with China, HSBC said on Thursday.
The fund would be managed by London-based Charterhouse Capital Partners, which is in talks with CIC and HSBC, the British bank said.
The three “are in exclusive discussions to create a fund to invest in high-quality and growing UK companies with development opportunities in China,” HSBC said.
The Financial Times earlier reported the fund could be worth 1 billion pounds (1 billion pounds).
CIC has set up similarly structured funds elsewhere in the world, including in the United States with Goldman Sachs <GS.N> and in Japan with Nomura.
(Reporting By Lawrence White. Editing by Jane Merriman)