Hopu Investment Management, the Beijing-based private equity fund set up by former Goldman Sachs dealmakers, is set to acquire a massive stake in China’s Minsheng Banking Corp as part of the lender’s $4bn Hong Kong initial public offering.
People familiar with the matter said that Hopu had pledged to buy $1bn of Minsheng stock, out-gunning rival investment institutions to back the city’s biggest IPO of the year.
