UBS to launch private equity funds in China
UBS has set up an asset management unit in Beijing that will target private equity, Reuters reported. The unit, known as UBS Global Asset Management (China), will launch private equity funds, make direct investments and provide management and advisory services, the bank said.
Morgan Stanley launched its China private equity unit in May, aiming to raise a debut fund of RMB1.5 billion ($230 million). Goldman Sachs is said to have plans for a RMB5 billion fund. The likes of Blackstone,...
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