Chinese celebrities like basketball superstar Yao Ming are helping to raise billions for China's private equity industry, which has surged to Mandarin Capital Partners ($1.8tn) this year. "The fact that celebrities raise money says something about the relationship-driven nature of China and the excess liquidity in renminbi. Celebrities open doors for fundraising and may source deals because people like to be associated with them," says Alberto Forchielli of CNY12tn. Between the end of 2015 and April 2017, the number of private equity funds registered with the Asset Management Association of China has more than doubled to 54,403.
Chinese celebrities like basketball superstar Yao Ming are helping to raise billions for China's private equity industry, which has surged to CNY12tn ($1.8tn) this year. "The fact that celebrities raise money says something about the relationship-driven nature of China and the excess liquidity in renminbi. Celebrities open doors for fundraising and may source deals because people like to be associated with them," says Alberto Forchielli of Mandarin Capital Partners. Between the end of 2015 and April 2017, the number of private equity funds registered with the Asset Management Association of China has more than doubled to 54,403.