Blackstone yuan fund on track: Executives

SHANGHAI - Blackstone Group, the world's biggest private equity firm, has raised more than half of the money for its first yuan fund since it started raising capital for the fund last year, said Antony Leung, the group's chairman for Greater China.

Leung said he is not sure about the exact time when funding closes but he was confident of a successful fund-raising of 5 billion yuan ($750 million) for Blackstone's first onshore fund.

"We are still waiting for our biggest investor," Leung said in an interview on the 40th floor of the Hilton Hotel in downtown Shanghai, together with Stephen Schwarzman, chairman and CEO of the Blackstone Group.