China’s Hopu Said to Boost Second Fund to $1.6 Billion by JuneCathy Chan
Hopu Investment Management Co., a private-equity firm set up by the head of Goldman Sachs Group Inc.’s Chinese securities venture, is seeking to boost its second local fund to $1.6 billion, a person with knowledge of the matter said.
The buyout firm raised about $1.2 billion in the first round of funding that ended in November and wants to amass $400 million more before the end of the second quarter, the person said, asking not be identified before the process is complete.
The fund, founded by Goldman Sachs Gao Hua Securities Co. Chairman Fang Fenglei, has already made two investments since November. It took a stake in Yashili International Holdings Ltd., a Chinese infant-formula maker, and shares in Global Logistic Properties Ltd., the biggest modern warehouse operator in the country, according to statements from the companies that received the investments.
Fang wasn’t immediately available to reply to a call made to his Beijing office today.