Tencent is talking to investors about participating in its $8.6 billion acquisition of Clash of Clans maker Supercell, The Wall Street Journal (WSJ) reported.

Names on the list include Canada Pension Plan Investment Board, China Investment and Hillhouse Capital (one of the biggest fund managers in Asia and a Tencent backer).

Tencent announced its deal to acquire 84 per cent of Supercell late last month, buying out investor SoftBank in the process.

“We are in the process of talking to potential co-investors in the consortium who are interested in participating in the long-term success of Supercell,” a Tencent spokeswoman said.

Getting minority investors on board would mean less financial risks for Tencent as it embarks on its biggest acquisition.

A third of the purchase will be financed with debt, and the rest will be divided between Tencent and other investors, the report said.

Potential participants in the consortium expect that an investment could bring an average annual return of 36 per cent in the next four years, based on a bet that Supercell would fetch a higher valuation later as well as seeing its revenue grow.

Tencent’s deal already values Supercell at $10.2 billion, having nearly doubled from a year earlier.