About CITIC Capital
CITIC Capital is an investment management and advisory firm that provides private equity, real estate, structured investment, asset management, advisory, and other services. It is headquartered in Hong Kong.
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Latest CITIC Capital News
Nov 24, 2022
'China's Rupert Murdoch' steps down as director of Manchester City parent company City Football Group It has not been confirmed if CMC Holdings founder Li Ruigang will be replaced 14:33, 24 NOV 2022 Li Ruigang joined the board at City Football Group in 2015 (Image: Tim Markland/PA Wire) A businessman known as 'China’s Rupert Murdoch' has stepped down as a director of Manchester City's owner. Li Ruigang no longer holds the role at City Football Group, according to a newly filed document with Companies House. CMC Holdings, of which he is chairman, first invested in City Football Group in a $400m deal with CITIC Capital for a stake of just over 13%. At the time, the deal valued the group at $3bn and saw Ruigang Li take a seat on the board. Speaking when the investment was announced, he said: "Football is now at a fascinating and critical stage of development in China. "We see unprecedented growth opportunities in both its development as an industry, being China's most watched sport, and its inspirational role bringing people of all ages together with a shared passion. "CMC has long been dedicated to creating opportunities that facilitate positive developments in Chinese football from different aspects within the ecosystem. "With its unique business model and distinct successes, City Football Group, whom we have come to know well, represents a differentiated systematic approach to building a global platform for football know-how, player development, academy programmes and commercial partnerships that will benefit China's football industry on multiple levels. "We and our consortium partner CITIC Capital also see this investment as a prime opportunity for furthering the contribution of China to the global football family." City Football Group is majority owned by Newton Investment and Development LLC while private equity firm Silver Lake owns 14.54% and CMC holding a 8.24% stake. Newton Investment and Development LLC is registered in Abu Dhabi and also wholly owned by Sheikh Mansour bin Zayed Al Nahyan. Members of the City Football Group board include chairman Khaldoon Al Mubarak, Martin Edelman, Simon Pearce, John MacBeath, Alberto Galassi, Abdulla Khouri and Egon Durban. City Football Group's clubs also include New York City, Melbourne City, Yokohama F. Marinos, Montevideo City Torque, Girona FC, Sichuan Jiuniu, Mumbai City FC, Lommel SK, Esperance Sport Troyes Aube Champagne and partner club Club Bolivar. It is also a joint venture partner in the £365m Co-op Live arena that's being constructed near Manchester City's stadium. In 2016 , the FT said that Li Ruigang is "universally described as the most connected individual in Chinese media". His China Media Capital fund has held large stakes in Imax China and Oriental DreamWorks, a television station in Hong Kong and joint ventures with Warner Bros and other major studios. BusinessLive has approached City Football Group for comment. READ MORE:
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Where is CITIC Capital's headquarters?
CITIC Capital's headquarters is located at 1 Tim Mei Avenue, Central, Hong Kong.
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