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Article: ALIBABA GROUP FORMS FUND MANAGEMENT FIRM

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AsiaInfo Services
Article date:
April 14, 2009
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AsiaInfo Services
04-14-2009
Alibaba Group Forms Fund Management Firm

HANGZHOU, Apr 14, 2009 (SinoCast Daily Business Beat via COMTEX) -- Alibaba Group said on April 13, 2009 that it set up a fund management firm.

Xiong Xiong, former chief executive officer for Libra Capital, will lead the fund management firm, which is mainly engaged in investment in the secondary market, Joseph Tsai, chief financial officer of Alibaba Group, said in an e-mail yesterday, adding that the establishment of the new unit will enhance the group's capital management ability, sharpen up its insight in the macro-environment, and enable the group to seek higher return on capital operating.

Libra Capital was founded ...

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