New ETF Book by Larry Connors - Click here to read more
The company will manage the group's first RMB-denominated private equity fund.
Blackstone said on August 14 that it would raise 5 billion yuan through an RMB-denominated fund. One of the group's insiders revealed that capital raising for the fund has already begun.
The newly founded equity investment management company has chosen Lujiazui Financial Development, a local state-owned company, as its core strategic investor, and on Friday signed a general agreement. However, neither party clarified whether the Chinese company will inject capital into the RMB fund.
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