|
|
Fang Fenglei: a different league |
Goldman Sachss once invincible China team wobbled and spluttered in early December when it was announced that Fang Fenglei, the ambitious investment banking rainmaker who heads the US banks mainland joint venture, was setting up a $2 billion private equity fund in collaboration with Temasek.
The Singaporean state-owned investment company will contribute exactly half the funds original paid-up capital, with global investors pouring in the other $1 billion, including Goldman Sachs itself.
This in itself shouldnt be surprising. Fang isnt leaving his US employers at least not quite yet. He will remain for now the chairman of Goldman Sachs Gao Hua, the US investment banks three-year-old securities joint venture. In the words of one of Chinas leading investment bankers, Goldman Sachs will "bend over backwards to keep him in the fold if they leave him, it wont be...