People familiar with the matter said that the new fund under Blue Pool Capital supported by Alibaba Group Chairman Cai Chongxin completed the first round of fundraising in July and raised 300 million US dollars. The funds will be used to invest in hedge fund strategies. According to people familiar with the matter, the new fund is the second in the Harborside series. The goal is to raise $500 million by the end of the year. Investors include ultra-high net worth individuals and institutions.

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