Ping An halts new US private market investments in pivot to Europe: Bloomberg

Ping An Insurance (2318) has halted new investment commitments to US private markets since last April and is now looking to shift its focus toward Europe, according to people familiar with the matter cited by Bloomberg.

The Chinese financial giant has not resumed its private market allocations in the US since comprehensive tariffs were announced last year. It has even instructed at least one external asset manager to exclude American assets from a global fund strategy currently accepting new capital, Bloomberg noted.

This retreat underscores Ping An's lingering anxieties over US investments, despite recent diplomatic efforts to ease Sino-US tensions through new trade and investment councils. Consequently, the insurer is exploring ways to increase its exposure to European private markets, reflecting a broader trend among Chinese institutional investors and multinational firms seeking to expand their operations in Europe, according to the report.

However, the report said Ping An continues to actively invest in highly liquid US public markets, such as equities and bonds, enabling swift portfolio adjustments when necessary.

The company's previously established private market commitments remain entirely unaffected by this freeze, the report added.

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