According to Reuters, Qatar's sovereign wealth fund has agreed to buy a 10 per cent stake in China Asset Management, the country's second largest public fund company. "According to people familiar with the matter, the Qatar Investment Authority has agreed to purchase shares in China Asset Management from Primavera Capital." Citic Securities announced that it agreed to the third largest shareholder Tianjin Haipeng (Primavera Capital is the actual control of Tianjin Haipeng) to transfer 10% of China Asset Management for no less than $490 million. If the deal can be completed, the Qatar Investment Authority will become the third largest shareholder of China Asset Management.