(MENAFN) China's private equity firm, Yao Capital will raise USD250m for US fund for the first time, which will invest in overseas sports assets with relevance to the Chinese market.
The firm, co-founded by former NBA superstar Yao Ming, is in talks to with international investors discussing the fund which it plans to launch this year.
According to the co-founder and CEO David Han, the former chief investment officer at China's Wanda Group, said the company decided on the fund after Beijing's capital controls made it tougher to do overseas deals.
And he added: "Many of our targets are abroad. When the government tightened late last year, things did become difficult for us."
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