Hopu Investment Management, a pioneering private equity fund started by local Chinese investors, will not be raising a second fund, in a move that signals the eventual winding down of one of the most prominent local investment companies.
Hopu, set up by ex-Goldman Sachs bankers with the backing of Singapore’s Temasek, has told investors that two of its three founding partners will be retiring as the fund exits its remaining investments, according to people familiar with the matter.
Hopu raised $2.5bn in one of the largest first-time private equity fundraisings for Asia and gained prominence by leading high-profile acquisitions of shares in Chinese banks sold by Royal Bank of Scotland and Bank of America.
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