According to Bloomberg News on Tuesday (October 17), two traders in Gao Sheng in Hong Kong are raising funds to provide loans to borrowers of financial difficulties, including Chinese real estate tycoon.
Raymond Chan and Jenny Sun, who have worked in Goldman Sachs, plans to raise $ 250 million (S $ 342 million) from the family financial management room and the rich, half of which are expected to be this yearCompleted at the end of December.
Chen Ruifeng will be the chief investment chief of the new fund of Blue Mountain Bridge Capital LTD., which was founded by Sun Jianlan four years ago.
Chen Ruifeng said in an interview that their goal is that many Chinese real estate developers. It is difficult for the owners of these developers to borrow from traditional banks. "This is where we see many opportunities in Hong Kong."
Yueqiao Capital is the latest private credit fund management company that fills this vacancy.As banks reduce loans, interest rates have risen, and their arrears have risen, and it is more difficult for enterprises and their founders to raise funds for debt.
Sun Jianlan said that Yueqiao Capital's new fund will provide a loan of one to three years, with a target return rate of about 20%.About half of the fund's investment will be concentrated in Hong Kong, and the rest are in Southeast Asia, Japan and India.
