Private bank La Compagnie Financiere Edmond de Rothschild Banque has taken a 15.4 per cent stake in China-based Zhonghai Fund Management, worth RmB150 million ($21.9 million), according to media reports.

The stake was sold by Yunnan Tobacco Xingyun Investment. Rothschild could not be immediately reached for comment by WealthBriefing.

The deal comes at a time when the private bank has been deepening its ties with Chinese firms and banks. In September, the Bank of China acquired a 20 per cent stake in the bank, acquiring a €263.3 million ($341.5 million) stake.