Law360, New York (January 24, 2014, 2:41 PM EST) -- New York private equity giants KKR & Co. LP and Blackstone Group LP are vying for an interest in China Huarong Asset Management Co. Ltd., a bad debt manager shooting to raise more than $2 billion, sources told Reuters on Friday. Huarong is planning to sell a stake between 15 percent and 20 percent to strategic investors in the leadup to its planned initial public offering. The field of other bidders hoping for a holding includes BlackRock Inc. and Bain Capital LLC.
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