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HNA

Asia/PacFintechNews Roundup
·Mar. 27, 2017

China’s HNA to Take 25% Stake in Old Mutual US Asset Management Unit

Chinese conglomerate HNA has reported it will buy a 25% stake in Old Mutual's US asset management unit; HNA will pay approximately $445 million; following the sale, Old Mutual will own 26% of the US asset management business, a decrease from 51%; Old Mutual is expected to also sell the remaining portion of the company with a number of offers from strategic buyers and private equity groups; HNA has been increasingly adding financial services companies to its portfolio with recent acquisitions including Deutsche Bank and Anthony Scaramucci's SkyBridge Capital.  Source

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Asia/PacFintechNews Roundup
·Aug. 28, 2017

HNA’s Financing Support and Business Subsidiaries

HNA is one of China's most ambitious private conglomerate investors, investing $45 billion in global deals in the last three years with high profile deals including the buyout of Anthony Scaramucci's SkyBridge Capital, and multi-billion dollar stakes in Deutsche Bank AG and Hilton Worldwide Holdings Inc.; Bloomberg reports on how the business is financed; its findings show a network of capital providers including a number of shadow bank lenders as well as trusts and asset managers resulting in over $10 billion of unlisted shares pledged to non-bank lenders and interest rates from shadow bank financings that far exceed benchmark rates from bank loans and bond issuances; Bloomberg reports additional details on HNA's financing structure and shadow banking loans as well as the shadow banking platforms it currently operates as subsidiaries. Source

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