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, aims to focus on traditional private equity investments, the source said. While China-focused Hopu is widely considered a private equity firm, it also invested in hedge fund-style block trades, and took on investment banking-style advisory roles.
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