May
08
Chinese Tycoons Plant Money Management Flags on Wall Street
By-
Some 324 firms with ties to China have registered with SEC
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Asset managers followed the money from China to the U.S.
When a new hedge fund opened in Mountainside, New Jersey, a leafy suburb that still holds an annual little-league parade, few would have guessed where much of its funding came from: Chinese billionaire Cai Kui.
The credit hedge fund, Westfield Investment, was founded by former Goldman Sachs Group Inc. Managing Director Renyuan Gao and managed $139 million as of January. It’s part of a new crop of asset management firms that are expanding China’s reach on Wall Street as money has poured into the U.S. from the world’s second-biggest economy…
Chinese Tycoons Plant Money Management Flags on Wall Street
