Private Equity in China: Challenges and Opportunities - Hardcover

Yong, Kwek Ping

Hardcover

ISBN 10: 0470826517 ISBN 13: 9780470826515

Publisher: Wiley, 2012

Synopsis

Learn valuable lessons from the newly successful private equity players in China and explore the challenges and opportunities offered in Chinese markets

The first book to deal with private equity finance in China, Private Equity in China: Challenges and Opportunities provides much-needed guidance on an investment concept that has so far proved elusive in Asia. Focusing on the opportunities that the Chinese finance market offers to private equity firms, the book shows how these firms can strategically position themselves in order to maximize success in this new marketplace.

Private Equity in China includes in-depth case studies illustrating both successful and failed ventures by private equity firms operating in China, outlining the challenges faced by private equity firms in setting up new funds. It contains a collection of valuable experience and insights about acquiring companies and turning them around essential for any firm currently operating in, or considering entering, the Chinese market.

• Discusses the challenges faced by private equity firms in China including setting up the initial fund, fund raising, deal sourcing, deal execution, and monitoring and exit strategies
• Provides key insights drawn from keen observations and knowledge of the more mature private equity market in Western countries, analyzing the way forward for the Chinese private equity industry
• Discusses the role of renminbi-denominated funds in the development of the private equity industry in China

Breaking new ground in exploring and explaining the private equity market in China, the book offers incredible new insight into how equity companies can thrive in the Chinese marketplace.

About this title

From the Back Cover:

Praise for Private Equity in China

"During my thirty years of involvement with Asia, I have come to know and admire Yong Kwek Ping for his extraordinary knowledge about the Chinese financial world. This book provides unique insights on what is going on in the world of private equity in the second largest economy on the planet. Yong Kwek Ping is giving us an elegant new book, well balanced, judicious, and brilliantly clear in his judgment. His unique combination of practical experience and academic insights bring us a new level of understanding of the nature of private equity in China. Tautly written, this book is a new landmark, a work of great lucidity. An absolute must-read."—Dr. Dominique Turpin, President and The Nestl?e Professor, IMD

"Attracted by the strong growth of the Chinese economy and superlative returns of the private equity investments in China made in the last decade, many businesses and people (both foreign and local) are rushing into private equity in China without a deep understanding of the sector. This book, written by a veteran practitioner, provides a thorough overview of the private equity landscape, market trends, challenges, and opportunities. With numerous real-life cases in each chapter, Kwek Ping also succeeds in demystifying private equity in China. A must-read for anyone interested to learn about private equity or doing business in China!"—Chee-Yann Wong, Investment Principal, Actis's Beijing office

"An important compendium, demonstrating the author's deep and adequate knowledge within the intricacies of perhaps this century's most important arena for investments and disinvestments. The research base is outstanding–a remarkable and indispensible resource for anyone already involved, and anyone who wants to become involved, with the future world champion in economic activity."
—Tom Preststulen, Managing Partner, Elkem, a China National BlueStar company

"The Chinese private equity industry is in some respects similar to its Western counterparts, but, in others, more complex and quite different. This timely book takes a detailed view of the Chinese market and how it does, and does not, resemble private equity elsewhere."—Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School

"The China private equity industry is at its nascent stage and it is evolving so quickly with huge potential untapped. This is the first book to give insights into the industry from a practitioner's point of views with concrete examples and illustrations. It is also a pioneering book which covers Chinese RMB funds, and explains in detail the major differences of private equity investment in China to how private equity is done by its western counterparts."—David Schmittlein, John C Head II Dean, MIT Sloan School of Management

From the Inside Flap:

In recent years, access to capital in China was restricted, and the mismanagement of the economy (prior to reform) had taken its toll on the finances, operational capabilities, human resources, and technological know-how of local Chinese companies.

Private Equity in China sheds a much needed light on the opportunities that the Chinese finance market offers to private equity firms and reveals how these companies can position themselves strategically to survive and thrive in this dynamic marketplace.

No book on investing in China would be complete without providing insight into the political, macroeconomic, and financial landscape of the country. This vital resource offers an overview of the private equity industry with a special emphasis on the differences between investing in the West and in China. To help investors better understand the entire private equity investment cycle, the author has included information on the Inventis Private Equity Model—which gives a clear understanding of the investing dynamics from entry to exit—and provides an insightful review of the opportunities and pitfalls afforded by the newly popular investment vehicle, the Renminbi Private Equity Funds.

Private Equity in China's succinct cases illustrate the flourishing and failed ventures of private equity firms operating in China and explore the myriad challenges faced by private equity firms in setting up new funds. Using this important book, investors can tap into the author's valuable experience and keen insights about acquiring companies and turning them around.

Drawing on mature observations and an understanding of the more mature private equity market in Western countries, this book looks at the way forward for the Chinese industry and developing companies into "Chinese giants" in the world market.

About this edition

• Publisher: Wiley
• Publication date: 2012
• ISBN 10: 0470826517
• ISBN 13: 9780470826515
• Binding: Hardcover
• Edition number: 1
• Number of pages: 256