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Primavera hires former CITIC Securities subsidiary investor David Lin

5 Mar 2014

china chinese flagChinese private equity firm Primavera Capital has reportedly picked up David Lin following his departure from Citic Securities investment arm Goldstone Investment Co.

Lin left Goldstone following a tricky period in which the firm struggled to raise dollar and yuan funds according to Dow Jones.

It cited a person with direct knowledge of the situation about the move to Primavera.

Goldstone reportedly began plans to wind down its operations last summer after chief executive Wu Yibing left the firm to join Singaporean investment firm Temasek.

Goldstone is no longer believed to be looking to secure more capital for two investment vehicles, which it was raising last year.

Yibing agreed to join Temasek as head of its Chinese operations to replace Ding Wei earlier this month and will start his new job in October.

Earlier this year Primavera offered to buy Shanda Games, the Chinese online game developer it controls alongside the company’s parent Shanda Interactive Entertainment, in a deal valuing it at $1.9bn.

That deal represents a 22 per cent premium on the company’s share price at the close of the markets on Friday.

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