Private Equity Firm Is Said to Take Over Tomorrow-Linked Huaxia Life Assets

A private equity firm co-founded by 11 insurers and a Shenzhen state-owned company is said to dispose of risk assets of Huaxia Life Insurance Co., an insurance affiliate of Tomorrow Holding Co. Ltd., whose businesses were seized by Chinese regulators.

Jiuzhou Qihang (Beijing) Equity Investment Fund LLP was registered Thursday in Beijing with registered capital of 33.9 billion yuan ($4.91 billion), according to registration records. Its business scope is listed as private equity investment, investment management and assets management.