Blackstone officially launches fund in Shanghai
Private equity giant Blackstone Group has officially launched its first yuan-denominated private equity fund. Blackstone and the Shanghai Lujiazui Financial Development Co signed an agreement during an opening ceremony for the fund.
According to reports, the fund hopes to raise about 5bn yuan, 80 per cent from within China and 20 per cent from abroad, and will invest primarily in the Pudong Area - the emerging financial and commercial hub of China - and other districts of Shanghai.
Blackstone, one of the world’s largest alternative asset management and financial services companies, has increasingly become interested in the expanding Chinese market. Recently, it showed interest in acquiring French insurer AXA’s stake in Taikang Life, a Chinese insurance company based out of Beijing.
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Private Equity News» By News Type» Fund News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» China
Private Equity News» By News Type» Fund News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» China
