Goldman to inject $300m in China fund
Updated: 2008-01-11 10:06
Goldman Sachs Group Inc plans to inject $300 million into a private equity fund being set up by its China partner, the Wall Street Journal reported on Thursday.
The Wall Street investment bank would invest the money in the Hopu Fund, a $2 billion private equity fund being set up by Fang Fenglei, chairman of Goldman's Chinese securities joint venture, the newspaper quoted people familiar with the situation as saying.
The contribution shows the confidence Goldman and other investors have in Fang's ability to deliver deals.
Fang's fund will be anchored by around $1 billion of cash put in by the Singapore government-controlled investment firm Temasek Holdings, the newspaper said.
The Hopu Fund is expected to close in coming weeks and the final amount and terms of the investment by Goldman and others had not been finalized, it added.
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