U.S. Blackstone Group signed a financial cooperation memorandum with the government of Pudong District in Shanghai. Blackstone will set up the first regional private equity fund of RMB in Pudong--- Blackstone Chinese development and investment fund. It will raise about 5 billion yuan in key investment areas including Pudong and surrounding areas in Shanghai.
Antony Leung, Chairman of Blackstone Greater China, said the Blackstone Group will not slow down investment in China due to the high economic growth in the country and the good return on enterprises.
The Blackstone Group is one of the biggest independent alternative fund management institutions in the world. Its business contains corporate private equity funds, real estate funds, hedge funds, mezzanine funds, senior debt funds, private hedge funds and closed-end funds and so on.
By People's Daily Online