The decision is driven by operational considerations and does not affect the fund’s investment strategy or our investments in China.
Our representative office in Shanghai has been in operation since November 2007. We currently have 8 people at the office. Over the years, our Singapore office has increasingly served as the hub for the whole of the Asian region and has been built up to take care of all operational functions, including for China. Effectively, the decision to close the office in Shanghai is therefore only an adjustment of our operating business model.
As of end of 2022 we were invested in approximately 850 Chinese companies with a total value of approximately 42 billion USD.
We will ensure that the closing process is conducted in an orderly manner for all affected persons at the office and in line with local requirements and procedures.
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