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| Additional information |
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| New China Capital Management, LP |
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Overview:
The Cathay family of funds (“Cathay”) is one of the most successful and experienced providers of growth capital to Chinese companies with an unsurpassed track record of realized capital events.
Since 1992, Cathay has completed over 35 investments and has completed initial public offerings (“IPOs”), trade sales and other capital events with a cumulative transaction value over US$5 billion. In 2007 alone, Cathay completed five IPOs of its portfolio companies on international stock exchanges. Current assets under management exceed US$1.5 billion.
Cathay typically originates, structures, and acts as the lead equity investor providing growth capital to companies across a wide range of industries including consumer products, financial services, media and advertising, infrastructure, transportation, natural resources, chemicals, technology, pharmaceuticals, property development, light manufacturing and heavy industry. Where needed, Cathay provides expertise in restructuring, including restructuring offshore.
With new capital from Cathay, portfolio companies are able to expand their existing operations rapidly, often doubling or tripling earnings in just a few years. Capital provided by Cathay has been used to increase working capital, enter into new business lines and regions, expand plant and equipment and otherwise reinforce a company’s strong competitive attributes, to make the company more attractive for follow-on investment or for a value-realizing capital event.
Cathay generally acquires meaningful minority equity positions in companies with proven management, strategically valuable market positions and successful operations. Cathay typically provides growth capital to companies seeking to expand operations across a wide range of industries.
Cathay prefers domestically-focused companies, operating within “basic industries” such as consumer products, financial services, media and advertising, infrastructure, transportation, natural resources, chemicals, technology, pharmaceuticals, property development, light manufacturing and heavy industry. Investment sizes generally range from US$8 to $80 million. Cathay's target investment period ranges from 3 to 10 years.
Cathay takes a "hands-on" approach, providing ongoing advice and assistance to entrepreneurs on corporate, strategic and capital market issues to help companies best utilize their capital in order to expand operations and to prepare for a capital market transaction. Cathay’s team includes experienced operational experts, entrepreneurs, and former senior managers of multinational and local businesses in China.
Cathay's investment model is to develop close relationships with management and to align incentive structures so as to ensure that both management and financial investors benefit from the successful growth and ultimate realization of value following the achievement of a capital event such as an IPO or trade sale.
The Cathay family of funds are managed by New China Investment Management, Inc. and its affiliate, New China Capital Management, LP. Cathay’s bi-cultural team members bring over 130 years of collective China-related investment experience operating out of offices in Hong Kong, Beijing, and Stamford, Connecticut, USA.
Cathay is comprised of three investment funds dedicated to direct investment in China:
The Cathay Investment Fund, Limited ("CIF") is a closed-end fund launched in 1992. In late 2003, CIF began returning capital to investors after completing a highly successful investment program.
Cathay Capital Holdings, LP ("CCH I") is a US$250 million private equity fund launched in February 2004. CCH I is fully invested and began returning capital to investors in 2006.
Cathay Capital Holdings II, LP (“CCH II”) is a US$550 million private equity fund launched in February 2007. CCH II is currently Cathay's primary new investment vehicle.
Cathay's investors include numerous US and European-based investment funds, university endowments and family offices. |
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