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Blackstone to set up a 皇冠体育app subsidiary

(皇冠体育app Daily)
Updated: 2009-06-19 16:24

US private equity firm Blackstone Group LP is in talks with the Shanghai city government to set up a wholly-owned 皇冠体育app subsidiary as it prepares to launch a local currency private equity fund, sources said yesterday.

The Shanghai Financial Service Office, led by the city government, has given strong backing to senior Blackstone executives, hoping the US private equity group could be the first foreign firm to incorporate locally.