Fosun, Zhejiang government launch RMB fund-of-funds
Fosun Group and the Zhejiang provincial government will launch a RMB10 billion ($1.6 billion) renminbi-denominated fund-of-funds (FoF), with a view to restructuring and transforming different industries.
The fund - Zhe Shang Growth Fund - is targeting a first close of RMB8 billion, with a final close expected within six months. It has already received LP commitments from the government, local enterprises...
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