Goldman plans to put around $300m into alumni-run China private equity fund

Goldman Sachs Group Inc. plans to back a $2 billion private-equity fund being set up by its China partner, Fang Fenglei, as many of China's top deal makers try their hand at their own funds.

Goldman plans to put around $300 million into the Hopu Fund as a limited partner, people familiar with the situation say. Though Goldman often invests in hedge funds run by its alumni, the contribution marks a rare instance of the Wall Street investment bank putting its capital into a private-equity fund managed by an entity other than itself. Doing so reflects the confidence Goldman, and other investors, have in Mr. Fang's ability to deliver deals. (WSJ.com)