Richard Ong, a founding partner of Hopu Investment Management Co., is planning a new $2 billion Asia fund, Reuters reported. The new fund, RRJ Capital, will focus on traditional private equity investments, Reuters said.
(Reuters) – Hopu Investment Management Co. founding partner Richard Ong is establishing his own $2 billion Asia fund, a source with direct knowledge of the matter said on Monday, ending speculation on the next move for the high-profile former Goldman Sachs dealmaker.
Ong’s new fund, RRJ Capital, will focus on more traditional private equity investments, the source said.
Hopu was co-founded with Fang Fenglei, who helped Goldman establish its China investment banking joint venture, and Dominic Ho, a former KPMG executive.
Hopu, which raised a more than $2 billion investment fund, declined to comment. (Reporting by Stephen Aldred; Editing by Jacqueline Wong)
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