Bloomberg.com 15 Jan 2009, Cathy Chan
Jan. 15 (Bloomberg) -- A fund run by Goldman Sachs Group Inc.’s China partner Fang Fenglei bought about 30 percent of a $2.3 billion Bank of China Ltd. stake sold by Royal Bank of Scotland Plc this week, two people familiar with the deal said.
Hopu Investment Management Co., founded by Fang in 2007, made the investment together with unidentified associates, the people said, declining to be identified because details are private. Edinburgh-based RBS sold 10.8 billion shares in Bank of China for HK$1.71 apiece to institutional investors.
It was the private equity fund’s second investment since Fang, 56, raised $2.5 billion from overseas investors including Goldman and Temasek Holdings Pte last year.
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