International Corporate Finance

17 Carlyle 1987

Xiangdong

Yang, Ziming

Tang, Zencui Zu,

Zhunhuan Li

$193 billion

(worldwide)

Consumer goods, Retail, Healthcare, Financial

services, TMT, Real estate

18 KKR 2005 Haifeng Liu $99.1 billion

(worldwide)

IT, Internet, TMT, Food & Drinks, Healthcare,

Culture & Media, Chain stores, Retail

19 Morgan Stanley Private

Equity Asia

1993 Xuanqin Zhou $4 billion

Financial, Manufacturing, Consumer

goods & services, Construction materials,

Pharmaceuticals, Chemicals

20 CITIC Capital 2002 Yichen Zhang $4.6 billion Pharmaceuticals, Renewable energy,

Machinery, Agrobusiness

21 Hillhouse Capital 2005 Lei Zhang $20 billion+

Internet & Media, Consumer goods & Retail,

Healthcare, Financial services, B2B services,

Advanced manufacturing

22

China Merchants

Xiangjiang Industrial

Investment Management

2008 Shenyuan Cai ¥3 billion+ RMB

High end equipment manufacturing, New

materials, New energy, IT, Aerospace,

Culture, Agriculture, Services, Biotech &

Pharmaceuticals

23 Greenwoods 2004

Jinzhi Jiang, Hao

Wang ¥50 billion+ RMB

Consumer goods & services, Healthcare

& Pharmaceuticals, TMT, Advanced

manufacturing

24 Bright Stone Investment 2009 Feng Gao

¥16.8 billion RMB

and $2 billion

Advanced manufacturing, Energy efficiency

& Environment protection, Biotech &

Pharmaceuticals, Satellites/TMT, Tourism,

Consumer goods, Healthcare, Agriculture

25 ChinaEquity 1999 Chaoyong Wang

¥5.4 billion RMB

and $1.3 billion

Hi-tech, High end manufacturing, High

quality consumer goods & servicess, Culture,

Healthcare, Environment protection, New

energy, New materials

26

Shenzhen Ping’an

Innovation Capital

Investment

1992 Jinshun Zhang ¥4 billion RMB Machinery, Energy, Real estate, Chemicals

27 Trustbridge Partners 2006 Shujun Li $1.175 billion

Internet, Healthcare, Consumer goods &

services, New energy, Environment protection

28 Stone Capital 2008 Liqun Wang ¥5 billion RMB

TMT, Internet, Consumer goods, Energy

efficiency & Environment protection, Culture,

Automobile

29

Shanghai Yonghua

Investment Management^1994

Xiaojing Zheng,

Liang Jing ¥700 million RMB

Software & cartoon animation, Outdoor media,

Internet service, Pharmaceuticals

30

Haitong-Fortis Private

Equity Fund Management^2004

Baoguo Li, Junyu

Zhang, Hong Gu ¥3 billion RMB

Energy efficiency & Environment protection,
Advanced manufacturing, New energy, New
materials, IT, Biotech, Hi-tech services
Source: Data compiled from Forbes China
*Methodology: Similar to Forbes’ Midas list, the firms were ranked based on their investment return and contribution to companies invested in over the past five years.