Goldman Sachs is planning to launch a yuan-denominated private equity fund in China, Reuters reports. The lender is seeking to raise about $770 million for the new fund.
Goldman is also expected to have signed an agreement with the Beijing Municipal Government that will be its first investor in the domestic fund. Private-equity investments in China have increased by 40% to $19.7 billion in 2010, adds Bloomberg.
Click here for the story from Reuters.
Click here for the additional coverage from Bloomberg.