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GCS to buy Dexia's AM arm for $500 million

Yvonne Chan
The deal by Hong Kong-based GCS, a low-key private equity firm, includes a distribution agreement with ICBC to offer European-managed fund products to Asian investors.
GCS to buy Dexia's AM arm for $500 million

GCS Capital, a little-known Hong Kong-based private equity firm, has agreed to purchase Dexia Asset Management (DAM) in a €380 million ($496 million) deal which includes a distribution agreement with Industrial and Commercial Bank of China (ICBC).

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