Just five years after inception, Hony Capital is rapidly becoming a household name in international private equity. Alongside its Beijing rival CDH Investments, the firm has emerged as one of a small group of go-to firms with that rarest of private equity skills: the ability to source and deliver buyouts in China.
On the inside track
Buyouts in China are still elusive, but Hony Capital has amassed a portfolio of 25 control investments already. Chinese institutions and international blue-chip limited partners make up an illustrious funding base. Philip Borel asks founder John Zhao how he did it all.
