Best time to buy XIN - Now! -- More Blue Ridge Background -- Fund 1 (the one that sold) - had partner falling out....(Justin Tang)
The first fund - the one that had XIN had a partner in China - Justin Tang. He and Blue Ridge stopped seeing eye to eye and split up. He was partner on the 2006 $600 million fund. May well be why selling occurred.
You can get to primary on below by googling
blue ridge justin tang deal new york times
Justin Tang, a co-founder of Blue Ridge China, said that investors were increasingly interested in private equity in China because, unlike in Western markets, it was not dependent on leveraged buyouts.
"In China, what we're mainly doing is investment in rapidly growing companies," Tang said. "The global dry-up of liquidity has only a limited impact on growth" in the capital investment environment in China.
Blue Ridge China has spent most of a $300 million fund it had raised in May 2006, including teaming up with Equity International to buy a stake in the home builder Xinyuan Real Estate, which raised $245 million in a New York initial public offering last year.
Acorisk, what makes you think BR and XIN had a falling out? Do you happen to know what it was about? Might it have been about Dividend policy, possibly a conflict over XIN's freeze out of the FY 2011 dividend?
My note was about Blue Ridge and Tang, not Blue Ridge and XIN.....not sure whether Blue Ridge and XIn had a falling out. Believe that Tang and Blue Ridge did go separate ways. Given that & Tenure of fund, started 2006 -- May well be that Blue Ridge just decided to wind up the smaller China fund by selling.