Monday, 20 April 2015
Last updated 8 hours ago
May 20 2013 | 12:23pm ET
China's Fosun International hopes to raise US$1 billion for its second dollar-denominated private-equity fund.
The new China Momentum Fund will invest in foreign companies seeking to expand in China. There will be a particular focus on Europe, in an effort to profit from depressed prices due to the economic crisis.
China Momentum will hold its first close next month at about US$300 million. Among the investors is Prudential Financial, Fosun's partner on its last fund, which raised US$600 million. The new fund will have priority over Fosun's existing funds in selecting investments.
Fosun aims to have only about 10 investors in the new fund, primarily pension funds, high-net worth investors and institutional investors from outside China.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…