BEIJING, March 31 (Reuters) – U.S. distressed asset manager Oaktree has received an outbound investment quota in the Beijing municipality worth $500 million, the Chinese capital’s local financial regulator said on Tuesday,
Oaktree is the first financial institution to participate in the city’s outbound investment scheme, the regulator said in a statement. The scheme allows a foreign asset manager to raise yuan funds in China and invest them overseas.
Seven financial institutions including Bridgewater and Amundi have applied for outbound investment quotas worth nearly $2 billion, the statement said. (Reporting by Leng Cheng, Editing by Gareth Jones)