Noah to buy back Sequoia’s stake in asset management unit
Chinese wealth management firm Noah Holdings has agreed to repurchase Sequoia Capital China’s stake in its asset management unit – Gopher Asset Management - following difficulty in winning approval for the investment.
Sequoia, already a shareholder in Noah, proposed to invest RMB348 million ($51.7 million) in Gopher in October 2016. This was done with a view to helping the business extend its product capabilities both...
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