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CITIC Capital
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<h2 id="background">Background</h2> <p>CITIC Capital was founded on 4 February 2002 originally as CITIC Capital Markets, an <a href="/facts/Investment_banking/WcxWICfI">investment banking</a> <a href="/facts/Joint_venture/f2Fv8QqA">joint venture</a> between <a href="/facts/CITIC_Group/ASszP8H2">CITIC Group</a> and <a href="/facts/CITIC_Ka_Wah_Bank/mreV6fBH">CITIC Ka Wah Bank</a>.<a class="footnote-ref" id="fnref:1" href="#fn:1"><sup>1</sup></a><a class="footnote-ref" id="fnref:2" href="#fn:2"><sup>2</sup></a><a class="footnote-ref" id="fnref:3" href="#fn:3"><sup>3</sup></a> </p><p>Towards the end of 2002, CITIC Capital Markets entered the retail <a href="/facts/Mutual_fund/gyz5AKUP">mutual funds</a> business in Hong Kong. It would rely on CITIC Ka Wah Bank and Cargary Securities to act as its distributors. Around this time, Zhang Yichen moved from <a href="/facts/CITIC_Pacific/MKed48bc">CITIC Pacific</a> to join the firm as deputy CEO and would oversee the new business strategy. The aim was to build a business infrastructure so it could later support <a href="/facts/CITIC_Securities/LPyVggNW">CITIC Securities</a> which at time was limited in its exposure to the funds industry.<a class="footnote-ref" id="fnref:4" href="#fn:4"><sup>4</sup></a> It partnered with Bank One Corporation to launch its first mutual fund which was a bond fund that invested in US <a href="/facts/Mortgage-backed_security/KaG3e9vX">mortgage-backed securities</a> and treasuries.<a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a> </p><p>In 2006, CITIC Capital Markets and <a href="/facts/CITIC_Securities/LPyVggNW">CITIC Securities</a> signed a <a href="/facts/Memorandum_of_understanding/eyjDh7Nq">memorandum of understanding</a> to build a China focused equities platform. As a result, CITIC Capital Markets transferred its equities business to CITIC securities and rebranded to CITIC Capital Holdings where it would focus on principal investing.<a class="footnote-ref" id="fnref:6" href="#fn:6"><sup>6</sup></a> </p> <h2 id="structure">Structure</h2> <h3>Business activities</h3> <p>CITIC Capital has the following business lines:<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a> </p> <ul><li>Private equity (Trustar Capital. Was formerly known as CITIC Capital Partners until March 2021)<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a></li> <li>Real Estate (CITIC Capital Real Estate Group. Formed in 2005)</li> <li>Structured Investment & Finance</li> <li>Asset Management (Vision Capital)</li> <li>Special Situations (formed in 2017)</li> <li><a href="/facts/Environmental%2c_social%2c_and_corporate_governance/hCR8skud">ESG</a> Investing (formed in 2010)</li></ul> <p>In January 2014, CITIC Capital launched its first quantitative <a href="/facts/Hedge_fund/LYsk45YD">hedge fund</a>, CCTrack Solutions. It would invest globally in various asset classes.<a class="footnote-ref" id="fnref:9" href="#fn:9"><sup>9</sup></a> </p> <h3>Ownership</h3> <p>The ownership of CITIC capital has changed frequently. When it was incorporated it was jointly owned by <a href="/facts/CITIC_Group/ASszP8H2">CITIC Group</a> and <a href="/facts/CITIC_Ka_Wah_Bank/mreV6fBH">CITIC Ka Wah Bank</a>.<a class="footnote-ref" id="fnref:10" href="#fn:10"><sup>10</sup></a> In 2004, its shareholders structure changed to be jointly owned by CITIC Pacific and <a href="/facts/CITIC_International_Financial_Holdings/3tsSRbYF">CITIC International Financial Holdings</a>.<a class="footnote-ref" id="fnref:11" href="#fn:11"><sup>11</sup></a> In July 2009, <a href="/facts/China_Investment_Corporation/ptUmzRUX">China Investment Corporation</a> acquired a 40% stake of CITIC Capital.<a class="footnote-ref" id="fnref:12" href="#fn:12"><sup>12</sup></a> In August 2012, <a href="/facts/Qatar_Holding/tpJrFTKh">Qatar Holding</a> acquired a 22% stake in CITIC Capital.<a class="footnote-ref" id="fnref:13" href="#fn:13"><sup>13</sup></a> In November 2014, <a href="/facts/Tencent/88gpEqLy">Tencent</a> became a shareholder of CITIC Capital.<a class="footnote-ref" id="fnref:14" href="#fn:14"><sup>14</sup></a> In June 2015, <a href="/facts/Fubon_Financial_Holding_Co./WVfr59sD">Fubon Financial Holding Co.</a> acquired a 20% stake of CITIC Capital.<a class="footnote-ref" id="fnref:15" href="#fn:15"><sup>15</sup></a> </p> <h2 id="external-links">External links</h2> <ul><li><a href="http://www.citiccapital.com">Official website</a></li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>"CITIC Capital and CITIC Securities Join Forces to Create an Integrated, Cross-Border Equities Business" (PDF). CITIC Capital. 16 January 2006. Archived (PDF) from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf" target="_blank">https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>Horne, Jackie (19 March 2022). "Citic Ka Wah mandates perpetual dollar bond". FinanceAsia. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.financeasia.com/article/citic-ka-wah-mandates-perpetual-dollar-bond/31651" target="_blank">https://www.financeasia.com/article/citic-ka-wah-mandates-perpetual-dollar-bond/31651</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>DiBiasio, Jame (18 February 2008). "Citic Securities makes asset-management foray | Alternatives". AsianInvestor. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.asianinvestor.net/article/citic-securities-makes-asset-management-foray/103699" target="_blank">https://www.asianinvestor.net/article/citic-securities-makes-asset-management-foray/103699</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>DiBiasio, Jame (2 July 2002). "Citic Capital planning mutual funds business". FinanceAsia. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.financeasia.com/article/citic-capital-planning-mutual-funds-business/34644" target="_blank">https://www.financeasia.com/article/citic-capital-planning-mutual-funds-business/34644</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>DiBiasio, Jame (12 August 2003). "New fund, new folks: Citic Capital expands". FinanceAsia. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.financeasia.com/article/new-fund-new-folks-citic-capital-expands/27996" target="_blank">https://www.financeasia.com/article/new-fund-new-folks-citic-capital-expands/27996</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>"CITIC Capital and CITIC Securities Join Forces to Create an Integrated, Cross-Border Equities Business" (PDF). CITIC Capital. 16 January 2006. Archived (PDF) from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf" target="_blank">https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>"CITIC CAPITAL - private-equity-eng". www.citiccapital.com. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.citiccapital.com/SitePages/private-equity-eng.aspx" target="_blank">https://www.citiccapital.com/SitePages/private-equity-eng.aspx</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>Wang, Eudora (18 March 2021). "CITIC Capital Partners rebrands as Trustar, invests in Swiss MedAlliance". DealStreetAsia. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.dealstreetasia.com/stories/citic-capital-medalliance-232474" target="_blank">https://www.dealstreetasia.com/stories/citic-capital-medalliance-232474</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> <li id="fn:9"><p>Deng, Chao (17 January 2014). "Citic Capital Launches Quant Hedge Fund". Wall Street Journal. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.wsj.com/articles/citic-capital-launches-quant-hedge-fund-1389951772" target="_blank">https://www.wsj.com/articles/citic-capital-launches-quant-hedge-fund-1389951772</a> <a href="#fnref:9" class="footnote-back-ref">↩</a></p></li> <li id="fn:10"><p>Horne, Jackie (19 March 2022). "Citic Ka Wah mandates perpetual dollar bond". FinanceAsia. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.financeasia.com/article/citic-ka-wah-mandates-perpetual-dollar-bond/31651" target="_blank">https://www.financeasia.com/article/citic-ka-wah-mandates-perpetual-dollar-bond/31651</a> <a href="#fnref:10" class="footnote-back-ref">↩</a></p></li> <li id="fn:11"><p>"CITIC Capital and CITIC Securities Join Forces to Create an Integrated, Cross-Border Equities Business" (PDF). CITIC Capital. 16 January 2006. Archived (PDF) from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf" target="_blank">https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf</a> <a href="#fnref:11" class="footnote-back-ref">↩</a></p></li> <li id="fn:12"><p>Shen, Samuel (20 July 2009). "China's CIC to buy 40 pct of CITIC Capital -paper". Reuters. <a href="https://www.reuters.com/article/idUSSHA31740/" target="_blank">https://www.reuters.com/article/idUSSHA31740/</a> <a href="#fnref:12" class="footnote-back-ref">↩</a></p></li> <li id="fn:13"><p>Shen, Samuel (22 August 2012). "Qatar buys 22 percent stake in China investment firm CITIC Capital". Reuters. <a href="https://www.reuters.com/article/us-qatarholding-citiccapital-idINBRE87L07P20120822/" target="_blank">https://www.reuters.com/article/us-qatarholding-citiccapital-idINBRE87L07P20120822/</a> <a href="#fnref:13" class="footnote-back-ref">↩</a></p></li> <li id="fn:14"><p>"CITIC Capital and CITIC Securities Join Forces to Create an Integrated, Cross-Border Equities Business" (PDF). CITIC Capital. 16 January 2006. Archived (PDF) from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf" target="_blank">https://www.citiccapital.com/News%20Files/2006-0116%20CITIC%20Capital%20and%20CITIC%20Securities%20Join%20Forces%20to%20Create%20an%20Integrated,%20Cross-Border%20Equities%20Business.pdf</a> <a href="#fnref:14" class="footnote-back-ref">↩</a></p></li> <li id="fn:15"><p>Wilson, Elliot (22 September 2015). "Banking: Taiwan's feet of clay". Euromoney. Archived from the original on 20 January 2024. Retrieved 20 January 2024. <a href="https://www.euromoney.com/article/b12klrjjrp8x5z/banking-taiwans-feet-of-clay" target="_blank">https://www.euromoney.com/article/b12klrjjrp8x5z/banking-taiwans-feet-of-clay</a> <a href="#fnref:15" class="footnote-back-ref">↩</a></p></li> </ol>