Reuters, 17 Nov 2009
HONG KONG, Nov 17 (Reuters) - China-focused private equity fund Hopu Investment Management plans to invest up to $1 billion in China Minsheng Bank (600016.SS), a mid-sized lender aiming to raise $4.07 billion through its upcoming IPO in Hong Kong.
Hopu's plan shows that the fund, run by Goldman Sachs Gaohua Securities Chairman Fang Fenglei and former Goldman banker Richard Ong, is turning its investment attention away from China's big banks and toward mid-sized lenders.
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