Yichen Zhang is the Chairman and Chief Executive Officer of CITIC Capital, an alternative investment management and advisory company with over US$4.5 billion of assets under management across private equity, venture capital and real estate. Yichen Zhang reflects on the history of private equity in China and shares his perspectives on what he sees as some of the biggest challenges and opportunities facing the industry.
Tom Barry is the CEO and Founder of Zephyr Management, a global emerging markets investment manager that specializes in the creation and management of private equity and marketable securities funds. Tom discusses the rationale behind his firm’s investment strategy and candidly shares his views on what he sees as the greatest challenges for the industry today. Since its inception in 1994, Zephyr has sponsored 22 funds with approximately US$1.2 billion in committed capital.
As the industry closes the books on 2013, several EMPEA Members provide their views on key trends and lessons learned in the past year for emerging markets private equity, and look to the opportunities and challenges facing the asset class in 2014.
Thomas C. Franco, Partner with Clayton, Dubilier & Rice (CD&R), shares his thoughts on the current state of thinking about private equity amongst limited partners (LPs), as well as the mechanics of driving operational value creation in portfolio companies. Founded in 1978, private equity investment firm CD&R has built a reputation for its culture of operations; the company oversees US$13 billion in assets under management.
Following the Federal Reserve’s suggestion that it might taper asset purchases this past May, emerging markets experienced a bout of volatility across all asset classes. As the OECD pronounced that global economic growth was shifting away from emerging markets and toward developed markets, newspapers became filled with commentary questioning the rationale for investing in emerging markets. In this Views from EMPEA, Mike Casey, a Director with EMPEA’s Consulting Services team, asserts that four key drivers of the emerging markets private equity thesis remain intact, teeing up opportunities for investors to achieve outsized returns.
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