Beijing city gov't signs agreement with Goldman's private equity unit
By Cai Xiao | China Daily | Updated: 2011-05-13 07:51
BEIJING - The Beijing municipality signed an agreement on Thursday to invest in Goldman Sachs Group Inc's yuan-denominated private equity (PE) fund, which reportedly aims to raise 5 billion yuan ($770 million).
The State-owned Capital Operation and Management Center, a unit of Beijing municipality, is responsible for the investment, said a spokesman with Beijing Municipal Bureau of Financial Work, who declined to be named.
The spokesman added that similar cooperation with Morgan Stanley will come next week.
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