Feb 26 (Reuters) - A former managing director of U.S. hedge fund Och-Ziff Capital Management Group (OZM.N) is looking to raise about $500 million for a private equity fund focusing on China, the Wall Street Journal reported.
Frank Yu is starting his own private equity firm called Themes Investment Partners, and the firm has completed its first round of fund raising, the paper said, citing people familiar with the matter.
Frank Yu declined to comment to Reuters from his Hong Kong office.
The fund is expected to begin start dealing in the coming months in a broad range of sectors, the paper said.
A source told the paper that Themes Investment Partners intended to co-invest with its limited partners and help them pursue strategic transactions in China. (Reporting by Sakthi Prasad in Bangalore, editing by Will Waterman)