RRJ Capital Ltd., run by former Goldman Sachs (GS) Group Inc. banker Richard Ong, plans to raise at least $5 billion for a private-equity fund focusing on China and Southeast Asia, a person with knowledge of the matter said.
RRJ’s team includes Ong’s brother, Charles Ong, who left his post in January as senior managing director of special projects at Temasek Holdings Pte., Singapore’s state-owned investment company. Last year, RRJ teamed up with a group including Temasek to purchase Frac Tech Holdings LLC, a Fort Worth-based hydraulic-fracturing services company. Full story
