Hopu Investment Management Co., along with two Chinese firms, has signed a USD110-million deal to buy a 20% stake in Winsway Coking Coal, in another venture into Mongolia by the Chinese private-equity firm founded by top China dealmaker Fang Fenglei. Winsway specializes in processing, washing and transporting coking coal and bringing resources from Mongolia to China. The other investors in Winsway are investment company Silver Grant International Industries Ltd., a mainland China-backed firm with property and industrial investments in Hong Kong and China, and China Minmetals Corp., a state-owned metals firm.

Winsway”s clients include Canadian company SouthGobi Energy Resources Ltd., a unit of Ivanhoe Mines Ltd. The company will use the capital from the investment to expand its infrastructure, one of the people said.

Hopu is a USD2.5-billion fund raised by  Fang, Goldman Sachs Group Inc.”s China partner in a securities joint venture, and former Goldman banker Richard Ong. The fund”s investors include Singapore“s Temasek Holdings Pte. Ltd. and Goldman Sachs. Last year, Hopu, along with Temasek, invested around USD300 million in Mongolia-focused Iron Mining International Ltd.

Deutsche Bank AG (DB) is advising Winsway on the deal.