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 ’s son, though details are scarce:

New Horizon , whose co-founders include Wen Yunsong, son of Chinese Premier Wen Jiabao, aims to raise a $1 billion fund for investment in domestic 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 background. A representative for New Horizon Capital could not be immediately reached for comment.

See also a brief report from China Economic Review.

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