Private Equity in Greater China China 2016 Alternative Assets

The Facts Private Equity in Greater China China 2016 alternative assets. intelligent data.

Private Equity in Greater China

In the lead-up to the SuperReturn China conference, Preqin examines the private equity market in Greater China, including fundraising, assets under management, investors and deals.

Fig. 1: Annual Greater China-Focused Private Equity Fig. 2: Greater China-Focused Private Equity Fundraising Fundraising, 2007 - 2016 YTD (As at 29 March 2016) by Fund Type, 2007-2016 YTD (As at 29 March 2016)

160 350 149 324 140 300 250 120 250 102 No. of Funds No. of Funds 100 90 Closed 200 Closed 80 73 150 Aggregate 61 59 Aggregate Capital Raised 60 54 50 44 Capital 100 ($bn) 39.6 73.9 40 Raised ($bn) 50.8 42 22.3 50 38 32 19.8 18.4 18.2 20 13.9 11.5 12.1 5.9 7.1 3.8 6.4 4 1.5 0 0 Other YTD Funds 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Buyout Growth Fund of Capital Venture Year of Final Close Fund Type

Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Fig. 3: 10 Largest Greater China-Focused Private Equity Funds Closed, 2007-2016 YTD (As at 29 March 2016)

Fund Size Final Close Firm Fund Firm Fund Type (mn) Date Headquarters Shanghai Municipal Creative (Design) Industrial Shanghai DOBE Cultural & Creative 26,900 CNY Aug-11 Venture Capital China Investment Fund Industry Development Nanjing Jianning Zijin Equity Investment Fund I Nanjing Zijin Investment 3,200 USD Mar-12 Venture Capital China Inventis China Growth USD Fund V Inventis Investment Holdings (China) 3,000 USD Sep-10 Growth China Hopu USD Master Fund I Hopu Investment Management 2,500 USD Jul-08 Buyout China Guochuang Kaiyuan Fund of Funds China Development Bank Capital 15,000 CNY Feb-13 Fund of Funds China Hony Capital Fund V Hony Capital 2,368 USD Dec-11 Buyout China Hillhouse Private Equity Fund Hillhouse Capital Management 2,000 USD Jan-15 Growth Singapore CITIC Private Equity Fund III CITIC Private Equity Funds Management 12,000 CNY Sep-12 Growth China Hopu USD Master Fund II Hopu Investment Management 1,850 USD Nov-14 Buyout China Beijing Guolian Energy Industrial Fund Guolian Securities 10,510 CNY Nov-12 Growth China

Source: Preqin Private Equity Online

Fig. 4: 10 Largest Greater China-Focused Private Equity Funds Currently in Market (As at 29 March 2016)

Target Size Firm Fund Firm Fund Type (mn) Headquarters China Ocean Economy Capital Fund I China Bright Stone Investment Management Group 3,000 USD Growth China Hony Capital Fund VIII Hony Capital 2,000 USD Buyout China Guochuang Kaiyuan Fund of Funds II China Development Bank Capital 10,000 CNY Fund of Funds China Huatai Ruilian Buyout Fund II Huatai Ruilian Fund Management 10,000 CNY Buyout China Primavera Capital Fund II Primavera Capital 1,500 USD Buyout China CSM International Fund China Science & Merchants Capital Management 1,000 USD Growth China IDG China Capital Fund III IDG Capital Partners 1,000 USD Venture Capital China Bohai Industrial Investment Fund II Bohai Industrial Investment Fund Management 6,000 CNY Buyout China Primavera (Tianjin) Capital Fund I Primavera Capital 6,000 CNY Buyout China Sequoia Capital China Growth Fund IV Sequoia Capital 850 USD Growth US

Source: Preqin Private Equity Online

The Facts Private Equity in Greater China China 2016 alternative assets. intelligent data.

Fig. 6: Strategy Preferences of Greater China-Based Fig. 5: Greater China-Based Institutional Investors by Type Institutional Investors

70% 64% Corporate Investor 60% 3% 4% Investment Company 47% 4% 50% 38% 6% Government Agency 40% 35% 30% Family Office 10% 20% Insurance Company 11% Proportion of Investors 10% 6% Asset Manager 2% 0% 11% Wealth Manager Funds Buyout Growth Fund of 15% Capital 12% Bank/Investment Bank Venture Balanced Secondaries Other Fund Type

Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Fig. 7: Number and Aggregate Value of Private Equity- Fig. 8: Number and Aggregate Value of Venture Capital Backed Buyout Deals in Greater China, Q1 2007 - Q1 Deals in Greater China, Q1 2007 - Q1 2016 YTD (As at 29 2016 YTD (As at 29 March 2016) March 2016)

70 16 600 16 Aggregate Deal Value ($bn) 14 Aggregate Deal Value ($bn) 14 60 500 12 12 50 400 10 10 40 8 300 8 30 6 6 No. of Deals No. of Deals 200 20 4 4 100 10 2 2

0 0 0 0 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD YTD No. of Deals Aggregate Deal Value ($bn) No. of Deals Aggregate Deal Value ($bn)

Source: Preqin Private Equity Online Source: Preqin Private Equity Online

Fig. 9: Greater China-Based Private Equity Assets under Management, December 2006 - June 2015 Data Source:

140 Private Equity Online is Preqin’s ﬂ agship online private equity information resource and encompasses all of 120 Preqin’s private equity databases.

100 Unrealized With unrivalled data and intelligence, Private Equity Value ($bn) 80 64 87 Online provides a 360º transparent view of all aspects 74 of the asset class, including fund terms and conditions, 60 43 33 Dry Powder fundraising, fund managers, institutional investors, fund ($bn) 40 performance, deals and exits, service providers and more. 16 46 20 39 41 37 38 7 8 2 5 18 5 8 11 12 For more information, or to arrange a demonstration, 0 please visit: Jun-15 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 www.preqin.com/privateequity

Source: Preqin Private Equity Online