Two former Goldman Sachs Group Inc. traders in Hong Kong are raising money to provide loans to cash-strapped borrowers, including the growing number of unhappy Chinese real estate tycoons.
Raymond Chan, most recently co-head of Oaktree Capital Management’s Asia distressed debt business, will become chief investment officer of Blue Mountain Bridge Capital Ltd’s new fund. He started this year at the firm founded by his former Goldman colleague Jenny Sun. The two plan to raise $250 million from family offices and wealthy individuals, with up to half of that expected by the end of December.
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