Primavera Capital Raised USD2Billion

One year after Fred Hu, former Chairman of Greater China at Goldman Sachs Group, joined the private equity industry, his PE fund had raised over US$2.00B. The first investment will be made in a Shanghai-based medicinal & chemical enterprise.

After leaving Goldman Sachs, Fred Hu moved into the private equity sector. It was said that he would raise a PE fund worth US$10.00B. However, there was a big gap between the reality and rumors. Recently, Lian Jie, a partner of Primavera Capital, disclosed that Primavera Capital financed about US$2.00B and was ready to invest in Shanghai Chemspec Corporation.

Shanghai Chemspec Corporation was established in 1996 and mainly engaged in outsourcing supporting R&D and production service of electronic materials, small molecule chemical drugs and pesticide products. Currently, it is a listed company on NYSE. According to the scheme jointly made with Primavera Capital, Shanghai Chemspec will delist from US after transactions and finally realize re-listing on Asian market.