Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) and BlackRock, Inc. (NYSE:BLK) in talks to buy a stake in China HuaRong Assets Management Co., Ltd. as the company seeks to raise more than $2 billion, people familiar with the matter told Reuters. Reuters had reported that Huarong was planning to sell a stake of between 15% and 20% to strategic investors ahead of a listing of the company. The other potential investors include The Blackstone Group L.P. (NYSE:BX) and Bain Capital, LLC. Sovereign wealth funds from Asia and the Middle East are preparing to submit first round offers by mid-February 2014. The Economic Times added that Blackstone, BlackRock and KKR declined to comment while Bain could not be reached for
comment. A Huarong official said that the company has been talking with investors, but they have not selected any. The sources declined to be identified citing the process to be private.