Pursuits
Billionaire Li to Invest in Former Ping An President’s Fund
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Billionaire Li Ka-shing’s charity foundation said it agreed to invest in a China-focused private equity fund set up by former executives of Ping An Insurance (Group) Co. and TPG Capital.
Boyu Capital Ltd. told investors it plans to raise about $1 billion, said a person with knowledge of the matter who declined to be identified because the information is private. The fund hired Alvin Jiang, grandson of former Chinese leader Jiang Zemin, the person said.