Mark Grier, Vice Chairman of PFI, said: “We are delighted to expand our partnership with Fosun and strengthen our long-term commitment to China through these new strategic initiatives and the establishment of our China headquarters in the Bund Financial Center. We anticipate that Fosun’s investment ability and deep understanding of the market in China will continue to help us achieve PFI’s goal of developing a successful long-term presence in China, drawing from our shared investment philosophy and PFI’s expertise and track record of developing high value retirement products and services.”Liang Xinjun, Vice Chairman and CEO of Fosun Group, said: “This strategic cooperation framework will encourage further utilization of both companies’ strengths, and China’s growth momentum will be combined with global resources in a profound way. Fosun Group has accumulated extensive industrial resources and channels, while PFI has versatile global resources. The in-depth cooperation between both companies will generate more business value for each other, and serve as a model for Chinese and American enterprises to share in the benefits of China’s economic development.” In 2011, PFI and Fosun launched the $600 million Pramerica-Fosun China Opportunity Fund with a $500 million commitment from PFI, the single largest investment in a third-party management corporation in PFI’s 138-year history. Pramerica Fosun Life Insurance Company Ltd., the companies’ 50/50 life insurance joint venture, commenced operations in Shanghai in 2012. PFI also made a commitment, as a cornerstone limited partner, to Fosun’s second USD Fund in 2013. About Fosun Founded in Shanghai in 1992, Fosun Group is a leading non-state owned enterprise in China. Fosun International (00656.HK), the parent company of Fosun Group, has been listed on the Hong Kong Stock Exchange since 16 July 2007. Net assets of Fosun reached RMB35.7 billion at 30 June 2013, with RMB170 billion in total value of assets under management. Having a balanced industrial base, Fosun is now actively developing insurance, asset management and investments. It will pursue “Value Investing” principles combining “China’s Growth Momentum with Global Resources,” marking a major step forward towards becoming a premium investment group with a focus on China’s growth momentum. Fosun is ranked No.1019 in Forbes The World’s 2000 Largest Public Companies in 2013.
For more information concerning Fosun, visit www.fosun.com.About Prudential Financial, Inc. (PFI) PFI is a financial services leader with more than $1 trillion of assets under management as of September 30, 2013, and operations in the United States, Asia, Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise, PFI is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. PFI's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. PFI and its subsidiaries are not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom. Pramerica is a trade name used by PFI and its affiliates in selected countries outside the United States. For more information about PFI, please visit http://www.prudential.com.