QIA is acquiring a stake in China Asset Management Co (ChinaAMC) from the investment firm Primavera Capital. ChinaAMC is a leading asset manager with over $248 billion (RMB 1.8 trillion) in assets under management. The company offers mutual funds and exchange-traded funds to both individual and institutional investors. Primavera Capital is a Chinese investment firm with offices in Hong Kong, Beijing, Silicon Valley, and Singapore, and it is considered one of China's leading investment firms with notable investments in companies such as Alibaba, Ant Group, ByteDance, XPeng, Yum China, and The Princeton Review.
Which company is QIA acquiring a stake from, and what is the nature of this company's business and global presence?
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