Standard Chartered has separated its direct investment unit


Standard Chartered reported that it had separated the direct investment management unit, and also agreed to sell the majority of its direct investment portfolio to funds that are managed by ICG Strategic Equity, writes. The report of the banking group also states that Affirma Capital will manage the portfolio, which includes direct investments in 35 companies in the countries of the Middle East, Southeast Asia, Africa, China, India and South Korea. Restructuring will cost about 160 million dollars. They plan to close the deal in the first half of next year.

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