SAC Capital, one of the largest US hedge funds, has acquired a stake in Taiwan's fourth-largest bank, joining the growing number of foreign firms investing in the Asian country.

The hedge fund and General Electric, a US-based worldwide conglomerate, have purchased a 79% holding in the company for $900m (€660m). SAC will invest $650m, while GE will contribute $250m, according to Reuters. GE already has a 10% stake in the bank.