Chinese Premier’s Son Eyes $1 Billion Fund for China Deals
Reuters reports on the latest initiative by Wen Yunsong, also known as Winston Wen, Premier Wen Jiabao’s son, though details are scarce:
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.
…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.
