Hong Kong billionaire Richard Li seeks to sell $157b asset manager PineBridge

Hong Kong billionaire Richard Li seeks to sell $157b asset manager PineBridge

FILE PHOTO: Richard Li, Hong Kong businessman and younger son of tycoon Li Ka-shing, waves as he arrives to vote during the election for Hong Kong's next Chief Executive in Hong Kong, China March 26, 2017. REUTERS/Bobby Yip

Hong Kong investment firm Pacific Century Group (PCG), founded by billionaire Richard Li, is seeking to sell its majority stake in asset manager PineBridge Investments, according to four people with knowledge of the matter and a deal document seen by Reuters.