Abu Dhabi Investment House eyes China fund

TIANJIN, China (Reuters) – Abu Dhabi Investment House, a Gulf Arab bank, is planning a $1.5 billion (824 million pounds) private equity fund to invest in real estate and manufacturing in China with a local partner, a senior executive said on Sunday.

An agreement to launch the fund will be signed within two months, said Rashad Janahi, ADIH’s managing director.

The Gulf firm is eyeing China at a time when a raft of tightening measures have chilled its real estate market, with sluggish transactions and falling prices in major cities. For a related story, double-click on.

And China’s manufacturing sector, especially export-oriented and labour-intensive firms, are being hit hard by weakening demand from the United States as well as Europe.

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