Elite Formations and Cases of Success and Failure

Justin Robertson

Chapter 6 in Localizing Global Finance: The Rise of Western-Style Private Equity in China, 2015, pp 54-70 from Palgrave Macmillan

Abstract: Abstract Chapter 6 turns to case studies. Contrasts are made between cases of successful replica localization featuring princeling-returnee coalitions (Boyu Capital, CITIC Private Equity Funds Management and New Horizon Capital) and less successful instances of replica localization that are returnee-centric (Mount Kellett Capital, Primavera Capital, Primus Holdings, RRJ Capital and most US private equity firms). Data are presented on the investment teams of princeling-based private equity funds, which reveal that returnees are heavily represented. Fully localized Chinese private equity firms that offer a different model are also presented but the analysis in this chapter casts doubt on the larger importance of such enterprises and notes that these firms operate on a much smaller scale than replica firms.

Keywords: Private Equity; Investment Bank; Portfolio Company; China Security Regulatory Commission; Private Equity Fund (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-51402-8_6

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DOI: 10.1057/9781137514028_6

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