From The Wall Street Journal, Sept 19

A Goldman sachs Grop, Inc.-managed private equity fund is investing about $250 million in Geely Holding Group’s Hong Kong-listed arm to fund the auto maker’s growth ambitious, according to a person familiar with the matter.

People familiar with the matter have said Ford was likely to pick Geely Holding soon to take over Volvo – a sign of its global ambitions.  Geely Auto confirmed earlier this month that its parent was bidding for Volvo with an unnamed state-owned investment company.