China Life and Baidu to launch US$1bil Internet fund

The Baidu Fund Partnership will be capitalised by China Life through a special partnership.

BEIJING: China Life Insurance Group Co and Baidu Inc will form a 7bil yuan (RM4.28bil) private equity fund, targeting Internet and other technology investments, China Life's listed arm said on Thursday. 

The Baidu Fund Partnership will be capitalised by China Life through a special partnership, which will contribute up to 5.6bil yuan (RM3.59bil), China Life Insurance Co Ltd said in a Hong Kong Stock Exchange statement.