Yao Capital seeks US$250m for first US dollar fund
Hong Kong
YAO Capital, the Chinese private equity firm co-founded by former NBA superstar Yao Ming, said it aims to raise US$250 million for its first US dollar fund that will invest in overseas sports assets with relevance to the Chinese market.
The firm is in talks with prospective international investors, including university endowments and private wealth managers, about the fund which it plans to launch this year, co-founder and CEO David Han told Reuters in an interview late on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea