Shanghai-based wealth management firm Noah Holdings is plotting to raise a real estate fund with a view to propping up the flagging balance sheets of Chinese developers, according to a report by the Financial Times. The firm, which services high-net-worth families in China with “over the counter” investment vehicles through which to invest their money, is understood to believe it can plug a financing gap left by China’s central government, which has been stemming lending by the country’s banks of late.
Shanghai's Noah plots $2.8bn real estate fund
The NYSE-listed wealth management firm based in Shanghai plans to reach out to China’s high-net-worth families for a fund aimed at providing an alternative financing source for the country’s real estate developer.
