Cathay Life Insurance, the insurance subsidiary of Taiwanese conglomerate Cathay Financial Holdings, has disposed of its stake in a fund managed by the US-based investor Dragoneer Investment Group.
In an amended regulatory filing, the insurer disclosed that it disposed of its stake in Dragoneer Global Offshore Feeder II for about $20.3 million, resulting in a gain of $10.1 million. Cathay Life had earlier said it was selling $20.4 million worth of shares in the fund for a $10.3 million gain.