AVCJ Private Equity Forum Singapore 2024
The Westin, Singapore and Online
25
Apr
Private markets in China: Bigger the challenge, bigger the opportunity
Geopolitical concerns and challenging macro environment had significant impact on activity in Chinese private equity. However, with challenges also comes an opportunity and savvy investors can find good assets at more reasonable valuations, especially in healthcare, energy transition, manufacturing, and the digital economy. The opportunity is further enhanced by expansion into the region by increasing number of GPs and their portfolio companies. Our panel of investors will share their views on the current investment landscape in China and discuss their strategies for the year ahead.
• What is the current state of play and how have private equity investment strategies changed?
• What sectors are proving resilient and where is the growth coming from?
• Are we now seeing more LPs from the Middle East and other regions selectively allocating to China?
• How are GPs navigating the challenging exit environment?
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SpeakersLing Yang China Editor MERGERMARKET
Shaun Lim Co-President HOPU INVESTMENTS
Rafael Ratzel Managing Partner TH CAPITAL INTERNATIONAL
Fan Yang Managing Director CDH INVESTMENTS
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Ling Yang is China Editor for Mergermarket, a global news intelligence service for advisors, private equity firms and corporates. She heads a team of dedicated specialists across China to cover corporate growth strategies, M&A deals, PE buyouts, cross-border M&A intelligence, as well as data-backed analysis and trend pieces.
Ling has been an investigative M&A reporter for 12 years with a special focus on private equity coverage. She was the head of consumer and retail coverage for APAC with Mergermarket. She joined Mergermarket in Hong Kong in 2011 before moving to Shanghai in 2016.
Shaun is Co-President, Partner and member of the management committee of HOPU Investments, an Asia alternative asset manager with US$20billion AUM that specializes in creating proprietary investments driven by its unique network and strong fundamental analysis capabilities. Its industry focuses include consumer, technology, healthcare, financial services, and logistics/real estate. He is also concurrently Head of HOPU-ARM Innovation Fund, a private equity fund set up jointly by HOPU and Arm Technologies investing in deep technology opportunities.
Shaun has over 20 years’ experience in private equity and investment banking, having worked in London, New York, Amsterdam, Singapore and Hong Kong. He was previously Managing Director at Blackstone, Head of China Financial Institutions at Bank of America Merrill Lynch and Vice President of ABN AMRO Private Equity. Mr. Lim also founded NBF Capital, a platform specializing in technology investments, as well as co-founded two technology start-ups with HK listed Pico Group in China where he also served as CEO.
Shaun has a Bachelor's degree in Economics (First Class Honours) from the London School of Economics and Political Science.
Rafael Ratzel has been an integral part of TH Capital (华控基金) in Beijing since 2016, spearheading the firm's international initiatives as the head of TH Capital International. His strategic leadership resulted in the successful establishment of the firm’s inaugural USD Fund in 2023, extending opportunities for international investors to access growth capital investments in Chinese high-tech sectors. The international team at TH Capital also supports portfolio companies in introducing innovative Chinese technologies to a global customer base.
Before his tenure at TH Capital, he held several operational roles at Siemens and Bosch in Europe and as a consultant with Roland Berger in Beijing. He further enhanced his cross-border investment expertise at CMIG Investments in Shanghai.
Rafael holds dual degrees in Engineering (Industrial and Systems Engineering) and Business Administration (Management) from the Hong Kong Polytechnic University. He has also acquired MBA degrees from Tsinghua University in Beijing and the Sloan School of Management at the Massachusetts Institute of Technology (MIT).
His strategic insight and leadership are also recognized in his role as a board member of the German family office and industrial holding group AEQUITA.
Fan focuses on investment opportunities in the technology and service sectors, as well as China and cross-border buyout opportunities. Prior to joining CDH in 2018, Fan was an Investment Director at Permira, a global private equity firm, covering technology and consumer sectors, and prior to that Fan was a VP at Unitas Capital, an Asia based buyout fund. Fan received his B.S. in Electrical Engineering from Fudan University.