Maurice "Hank" Greenberg, the former chairman of American International Group Inc., has launched a private-equity joint venture with CITIC Securities, a Chinese securities firm.
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The venture will target the financial services, health care, and real estate sectors, investing $65 million in the first stage, Mr. Greenberg said last week.
AIG was the first foreign insurance company to obtain a license to operate in China, granted while Mr. Greenberg ran the company. He resigned from AIG in March of last year amid an accounting scandal after running the company for 40 years.
