News Snapshot:
Hon Hai Technology Group, the world's largest contract electronics maker, said Tuesday it has teamed up with Shanghai-based China Insurance Investment Co. to set up a large private equity fund targeting emerging technology investments. In a statement, Hon Hai, also known as Foxconn in the global market, called the fund a strategic private equity fund which will ultimately be 20 billion Chinese yuan (US$2.99 billion) in size. The group and its Chinese partner will raise funds from institutional investors such as insurance companies and several funds of funds (FOFs), which hold portfolios of other investment funds rather than investing directly...
