Nepoch Capital, a new private equity firm founded by the son of a former member of China’s Politburo, has launched the first “princeling” fundraising since the new government took power last month vowing to clamp down on cronyism and nepotism.
China’s so-called princelings, the sons and daughters of the country’s elite, have a long association with private equity funds, and their investments – and sometimes bumper profits from a swift exit from lucrative initial public offerings – have drawn accusations of favouritism and corruption.
via Business feed http://www.scmp.com/business/china-business/article/1210575/princeling-backed-firm-eyes-us500m-china-buyout-fund
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