China International Corporation Corporation (CICC) has acquired a majority stake in Krane Funds Advisors, or also known as KraneShares, which provides a number of China-centric exchange traded funds.
CICC’s acquisition of KraneShares will combine the investment bank’s extensive global research, investment and wealth management platforms with KraneShares’ ETF expertise, according to a note.
CICC was the first investment bank formed through a China-US join venture, founded by China Construction Bank and Morgan Stanley. The investment bank is a leading financial service provider for global clients, along with serving a slew of corporate, institutional, government and wealth management clients in China.