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Temasek backs equity fund owned by Chinese Premier's son

SNAblog

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http://www.reuters.com/article/idUSTRE60O0EF20100125

Exclusive: Chinese Premier's son eyes $1 billion fund

HONG KONG (Reuters) - New Horizon Capital, whose co-founders include Wen Yunsong, son of Chinese Premier Wen Jiabao, aims to raise a $1 billion private equity fund for investment in domestic industry leaders ready to make initial public share offerings.

This would be the third and largest private equity fund for New Horizon Capital, which had about $500 million under management since it was established in 2007, according to sources with direct knowledge of the matter.

New Horizon Capital recently completed raising between $600 million and $700 million by the so-called "first-closing" period, with capital commitments from Asian investors including Japan's Softbank Corp and Singapore's state investor Temasek Holdings, said the sources.

The sources declined to be identified because of the sensitive nature of Wen's family background. A representative for New Horizon Capital could not be immediately reached for comment.
 

SNAblog

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http://www.financierworldwide.com/article.php?id=5950

$1bn Fundraising For China’s New Horizon
Claire Spencer, January 2010

New Horizon Capital is aiming to raise a $1bn private equity fund to invest into leading companies that are preparing to make initial public offerings (IPOs), according to a Reuters report, which cites sources with direct knowledge of the matter. This would be the firm’s third and largest fund – in 2007, it had around $500m in assets under management.

The sources revealed that New Horizon Capital recently finished raising between $600m and $700m for its latest fund, with commitments from investors including Softbank Corp of Japan, and the Singaporean sovereign wealth fund Temasek.

The firm was pitching the fund in 2008 but, like many other private equity firms, found it difficult as a result of the financial crisis and, as such, suspended the fund until early 2009, explained the sources.

“That was a very tough time, but now people are willing to pour money into the fund again since China is still the focus worldwide,” they added, speaking to Reuters.

The sources declined to be identified due to the involvement of Wen Yunsong, the son of the Chinese Premier Wen Jiabao, in the firm
 

singveld

Alfrescian (Inf)
Asset
see more of the CPF money grow wings and fly away not so long ago, which sinkies forgotten.
 

makapaaa

Alfrescian (Inf)
Asset
Just remember to do your part in the cumming GE to bring the CORRUPT PAPee TRAITORS to JUSTICE.
 

besotted

Alfrescian
Loyal
Well done, really.

This is a good investment.

Pinkertons, remember it was the WESTERN BANKS that caused the financial crisis

Temasek comatosed on its Bank of America and Merrill Lynch investments, it also invested other sums in Barclays, etc

On the contrary, it made billions from Bank of China stake

So don't be PINKERTON
 
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