Yao Ming during his Houston Rockets days.
Former Houston Rockets star Yao Ming is trying to be as big in the private equity world as the 7-foot-6-inch retired player was on the basketball court.
Want China Times reported that the ex-Rocket has been involved in two Chinese private equity fund management companies since 2011. He reportedly lost $7 million on an unidentified stock exchange recently, the website reported.
According to Want China Times, Yao's first venture is D&F Capital, which was established by his agent, Lu Hao. It is responsible for China's first sports-industry-focused private equity fund.
The other venture is ES Capital Group International in which Yao took over the majority stake in July 2011. He has placed members of his team in to key board positions, renaming it Chonqing Yufu Assets Management Group.
You can read more of Want China Times' report on Yao's financial industry endeavors here.
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Source: http://feedproxy.google.com/~r/vertical_10/~3/5U8zwxwUAO0/yao-ming-tries-to-score-in-chinese.html
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