Former Goldman Sachs dealmaker Richard Ong is in the process of establishing his own USD2billion Asia fund – RRJ Capital – which will focus PARA_BREAK_SENTINEL_9f8e7d6c

Former Goldman Sachs dealmaker Richard Ong is in the process of establishing his own USD2billion Asia fund – RRJ Capital – which will focus on private equity investments, reported Reuters this week. The founding partner of China-focused private equity firm Hopu Investment Management Co, first established in 2008 along with ex-Goldman’s Fang Fenglei and KPMG’s Dominic Ho, is likely to invest in similar sectors with the new fund – that is, financial institutions, consumer goods, natural resources and food. Hopu established a reputation at the time for making high-profile acquisitions into Chinese banks sold by RBS and the Bank of America. The firm was originally set up with USD1billion from Temasek, the Singapore sovereign wealth fund.