Chinese shadow-banking tycoon's PE firm ZZ Capital said to scale back ops

Chinese shadow-banking tycoon's PE firm ZZ Capital said to scale back ops

Light displays sit on buildings on the city skyline ahead of Chinese President Xi Jinping's arrival in Hong Kong, China, on Wednesday, June 28, 2017. Photographer: Anthony Kwan/Bloomberg

ZZ Capital International Ltd., the private equity firm controlled by Chinese shadow-banking tycoon Xie Zhikun, is preparing to dramatically scale back its operations, according to people familiar with the matter.

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