Co-Founders of Chinese Private-Equity Firm Boyu Build Singapore Base

Two co-founders of China's Boyu Capital, a leading private-equity firm set up by a grandson of former Chinese President Jiang Zemin, have relocated to Singapore with a share of the company's operations from its Hong Kong headquarters, according to people briefed on the move. Boyu's tilt toward the Southeast Asian city-state of Singapore was mainly driven by concerns over the ebbing clout of the elder Mr. Jiang, 94 years old, whose patronage has buttressed the firm's success, the people said. The transition, which began in late 2019, has coincided with Chinese leader Xi Jinping's efforts to curb the influence of…