(Yicai Global) Sept.11 --ChinaRenaissanceGroup,which which is poised tolist in Hong Kong, hasconfirmeditsfirst group of cornerstone investors. They includeAnt Financial, LGT Group Foundation and Snow LakeCapital, a source told the Economic Observer Online.

Thethree investment institutionshave scope tocooperate extensivelywithChinaRenaissance in internationalization, financial technology,internet securities, wealth and asset managementand other fields,public informationshows.

The asset management, wealth management,financial technologyand otherbusinessorientationswill usher in rapid developmentfromrising Chinesehousehold incomesandthecomplexityofinvestment demandand structures, Bao Fan, ChinaRenaissancechief executive,said in an open letterin the firm'sprospectus.

InvestmentfromAnt Financialunder Hangzhou-headquartered tech giant Alibaba Group Holdingislikelytopositivelyimpactthe firm'slisting and marketshort term, while the longhaul will affordgreat scopeforfurtherfuturecooperationbetween thetwo.The firm will collaboratewiththe Alibaba unitin wealth management, financial technology,internet securitiesand otherbusinesses.
The other two cornerstone investors, LGT and Snow Lake Capital, arebothwell-known investment institutions withaforeign investment background.

Founded in 1920, LGT is the world's largestfamily-ownedprivate banking and asset management group. It isin the hands ofthe 900-year-old Liechtenstein royal family.Itscurrentchief executiveis Prince MaximilianofLiechtenstein,son ofthemonarchofthe diminutive principality wedged between Austria and Switzerland. LGTwas one of the first international institutional investors in China.

Snow Lake Capital is a more low-key and mysterious hedge fund with more thanUSD1 billion in assets under management.Its entrusted funds mainly come from global institutional investors, including endowment fundsfrom top universities, non-profit foundations, family funds, pension funds and national sovereign funds, peritsthe official website.Before returning China toestablish Snow Lake Capitalin 2009, its founder Ma Ziming worked for Credit Suisse First Boston, awell-knownSanFrancisco investment bank, andZiffBrothers Investments, atop New Yorkhedge fund.

Editor: Ben Armour