Blackstone gets RMB fund backing from Shanghai Ace
The Blackstone Group will receive RMB300 million ($44.1 million) for its renminbi-denominated fund, The Blackstone Zhonghua Development Investment Fund, from listed Shanghai Ace Co., a Shanghai-based investment firm.
Board members of Shanghai Ace have already approved the capital injection The fund, which will focuses on assets in Shanghai and neighboring areas in the Yangtze River Delta, was launched in October 2009...
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