The bank has appointed Bank of America Merrill Lynch, BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, SBICAP and Standard Chartered Bank to manage the issuance.
Bocanegra, who chairs the GSIS’s investment bids and awards committee, said that these eight external fund managers will “proceed to the next stage of the selection process.”
This year, among other notable accomplishments, Ant Financial closed the largest venture deal for a Chinese company since at least 2010—and likely ever—with its $14 billion Series C last month.
Liquor maker Kweichow Moutai Co., Han’s Laser Technology Industry Group Co. and Jiangsu Hengrui Medicine Co. are among those in demand, while Gree Electric Appliances Inc. and Shanghai International Airport Co. have fallen out of favor.
Chair of IMAP and adjudicator of the awards, Toby Potter, said managed accounts were becoming a significant part of the advice profession
The transaction, which involves a nominal consideration by Apollo towards the acquisition, will officially close this summer, the report added citing sources.