When billionaire Ronald Burkle's Yucaipa investment operation agreed to put more than $25 million into a Chinese media company this fall, the investor group didn't include one of Yucaipa's high-profile partners: former President Bill Clinton.
The absence of Mr. Clinton from Yucaipa's investment in Xinhua Finance Media Ltd. appears to be the first tangible sign of a parting in the much-followed, five-year-old business relationship between Messrs. Clinton and Burkle. Mr. Clinton has been a senior adviser at Yucaipa and also had a financial interest in certain investments there.
But this week, Mr. Clinton indicated he plans to curtail his ties to Yucaipa should his wife, Hillary Clinton, win the Democratic presidential nomination. This follows a disclosure by the Clintons in June that they had sold millions of dollars of stocks to avoid situations -- like the one that a China-related investment might raise -- that could pose problems for Mrs. Clinton's campaign.