Prudential Financial Inc (PRU.N) said on Thursday that it would invest $500 million in a private equity fund to be managed by Chinese private conglomerate Fosun Group, representing the biggest third-party investment by the U.S. insurer in its 135-year history. Forsun, which has previously formed a partnership with global buyout giant the Carlyle Group [CYL.UL], has agreed to invest $100 million in the fund, the two companies said in a joint statement, confirming what sources with direct knowledge of the plan told Reuters earlier. [ID:nTST000765] Mark Grier, Vice Chairman of Prudential said: "The cooperation is based on optimism about the economic prospects for China, as well as the common investment philosophy between PFI and Fosun.
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