Consortium backs PRC housing needs
A consortium of investors including Warburg Pincus, CITIC Private Equity Funds Management,and Bohai Industrial Investment Fund Management, as well as private conglomerate Shanghai Fosun High Technology (Group), have made a joint investment of RMB2.6 billion ($381 million) into RedStar Macalline, a home decoration store chain headquartered in Tianjin.
This follows a commitment by Warburg Pincus of $200 million in RedStar Macalline in 2007, for around 20% of the business. The investment comes in spite of widespread speculation by banks like Goldman...
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