Hopu Investment Management, the Beijing-based private equity fund set up by ex-Goldman Sachs dealmakers, has made its first investment outside China as part of a strategy to establish a regional footprint.
According to people familiar with the matter, Hopu has acquired a 4.9 per cent stake in Lippo Karawaci, an Indonesian-listed real estate and hospital developer. Hopu declined to comment.
Hopu – which was set up last year with financial backing from Temasek, the Singapore state investment agency, and Goldman Sachs – is among a new wave of China-based private equity funds that are leveraging skills and contacts on the mainland to try to outperform foreign-based rivals.