APAC fund managers guide 2016

APAC FUND MANAGER GUIDE 2016
July/August 2016 privateequityinternational.com
2016 APAC
FUND
MANAGER'S
GUIDE

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APAC FUND MANAGER GUIDE 20162016 APAC FUND MANAGER’S GUIDE
What LPs want
Welcome to the 2016APAC Fund Manager’s
Guide, compiled by the Research and
Analytics team at PEI.
Private equity in the Asia-Pacific region is
maturing; the region is now replete with
fund managers variously offering size, scale or specialist focus.
This guide is compiled by our analysts using a similar methodology to our various global fund
manager rankings,such as the PEI 300:it measures the amount of private equity capital raised
over a period of five years.This gives us the best view of which managers have the most‘heft’in
the market at any one time in terms of capital to invest (and ignores any invested legacy funds
that boost headlineAUM figures but don’t speak to the firm’s current influence).
The region’s private equity powerhouse – China – continues to attract capital in meaningful
quantities from institutional investors around the world. It is home to almost half of the 100
largest private equity managers in the region.These firms – as with those based elsewhere in the
region – have successfully persuaded limited partners that they have the necessary qualities to
invest their capital for the long term.So what does it take for anAPAC manager to raise money?
As Doug Coulter, a partner at Swiss-based investor LGT Capital Partners said at an event in
Hong Kong this year, it takes good returns, a deep bench and a focus on institutionalisation,
governance and transparency.
“In China historically, we’ve seen a lot of high-profile firm leaders and charismatic individuals
who raise funds among themselves, but sometimes don’t share the economics that broadly;
that’s led to team instability over time,”Coulter said.“It’s good to have charismatic firm leaders,
but how good is the next level of employees down?”
These thoughts were echoed by John Huo, director of private equity of Manulife Financial,
who, at the same event, said his firm looks for team stability, evidence of a real succession
plan, as well as its ability to evolve with the market.
“China’s a very fast developing environment from a political, regulatory and economic
standpoint. It’s critical that teams are able to evolve and to learn from their mistakes – that’s
one of the core things that we look for when we talk to GPs.”
There are 15 managers in the directory headquartered outside of theAsia-Pacific region – and
three in the top 10.Clearly the opportunities in the region are compelling enough to warrant
major investment in building infrastructure and raising dedicated vehicles by global managers.
However, the fact that these global‘mega brands’ do not dominate the top end – the top four
managers are home-grown in either mainland China or Hong Kong – is telling: LPs value the
local heritage.Those firms that can combine this with the institutional strengths that LPs
desire have a recipe for great success.
We hope you find the intelligence in this guide useful.
The PEI team
PEI Research & Analytics
Dan Gunner
Director
T: +44 20 7566 5423
E: dan.g@peimedia.com
Shawn Wang
Research Manager
+852 2153 3247
shawn.w@peimedia.com
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Research Manager
+44 20 7566 5451
daniel.r@peimedia.com
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Tel: +44 20 7566 5447
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Cynthia Yip
EDITOR'S LETTER

2 private equity international 2016 apac fund manager's guide
What is PEIAPAC fund manager’s guide?
The Guide is a directory and a ranking of the top private equity fund
managers by their fundraising forAsia-Pacific region.It shares the sim-
ilar methodology with PEI300, our annual ranking of the top private
equity fund managers globally.
The Guide measures capital raised, or formed, within a five-year
window by Asia-Pacific-focused direct-investment private equity
programmes. It includes private equity firms that invest in Asia-Pa-
cific region with varying structures and strategies. Please note that
only a defined type of private equity capital,described below,is counted in
determining the Guide’s rankings.
HOW WE DETERMINE THE GUIDE’S RANKING
The Guide’s rankings are based on the amount of private equity direct-in-
vestmentcapitalraisedbyAsia-Pacific-focusedprivateequityprogrammes
over a roughly five-year period leading up to press time.This year, the
five-year window spans from 1 January 2011 until 31 March 2016.
Where two firms have raised the same amount of capital over this
time period, the higher rank goes to the firm with the largest active
pool of capital raised since 2011 (i.e., the biggest single fund). If there
is still a‘tie’ after taking into account the size of a single fund, we give
greater weight to the firm that has raised the most capital within the
past one or two years.
ACCURACY AND CONFIDENTIALITY
We give highest priority to information that we receive from or confirm
with the private equity firms themselves.When private equity firms
confirm details,we seek to‘trust but verify’.Some details simply cannot
be verified by us, and in these cases we defer to the honour system.
Lacking confirmation of details from the firms themselves, we seek to
corroborate information using firms’ websites, press releases, limited
partner disclosures, etc.
DEFINITIONS
To answer this question – How much Asia-Pacific-focused private equity
capital has your firm raised since 1 January 2011? – Some definitions
are required.
• Private equity: For purposes of the Guide, the definition of pri-
vate equity is capital raised for a dedicated programme of investing
directly into businesses.This includes equity capital for diversified
private equity,buyouts,growth equity,venture capital,and turnaround
or control-oriented distressed investment capital. Further rules on
this are below.
• Asia-Pacific:We only count the pools of capital that invests solely in
theAsia-Pacific region.Vehicles with global or multi-regional invest-
ment mandates will NOT be counted.
• Capital raised:This means capital definitively committed to a pri-
vate equity direct investment programme.In the case of a fundraising,
it means the fund has had a final or official interim close after 1 January
2011.You may count the full amount of a fund if it has a close after
this date. And you may count the full amount of an interim close
(a real one, not a‘soft-circle’) that has occurred recently, even if no
official announcement has been made.We also count capital raised
through other means, such as co-investment vehicles, deal-by-deal
co-investment capital, publicly traded vehicles, recycled capital, and
earmarked annual contributions from a sponsoring entity. Further
rules on this are below.
WHAT COUNTS AS PRIVATE EQUITY?
• Diversified private equity: So long as the fund in question pri-
marily is targeted at acquiring private stakes in operating businesses,
this is a‘private equity’ fund for the purposes of the Guide.
• Buyouts
• Growth equity
• Venture capital
• Turnaround or control-oriented distressed investment
capital:We only count distressed funds if they primarily pursue a
control strategy.Where a fund adopts a hybrid strategy with a mix of
distressed equity and credit investments,we reserve the right to make
the final judgement based on applicability according to our definition.
WHAT DOES NOT COUNT AS PRIVATE EQUITY?
• Funds of funds: In the case of a fund that is primarily a fund of
funds programme, we would only count direct investment capital
raised, if any.
• Secondaries: We do not count capital raised for funds primarily
focused on secondaries strategies.A fund that has a few secondaries
investments may be counted.
• Real estate: We do not count capital raised for funds primarily
focused on real estate strategies. A fund that has a few real estate
investments may be counted.
• Infrastructure:We do not count capital raised for funds primarily
focused on infrastructure investment strategies.A fund that has a few
infrastructure investments may be counted.
• Hedge funds: We do not count hedge funds, meaning funds that
primarily target liquid securities or trading strategies. Some hedge
funds have target allocations to private equity deals – we do not
METHODOLOGY

count these.We do count private equity capital formed in strictly
segregated fashion in a hedge fund if these pools of capital are brought
to our attention.
• Opportunisticinvestors:Aswithmanyhedgefunds,somelargeenti-
ties have the ability to do private equity deals on an opportunistic basis.
We do not count these groups because there is no hard capital allo-
cation to their direct-investment programmes.
• Debt, including mezzanine debt funds:We only count equity
investment funds for the Guide.All debt funds, including mezzanine
debt funds, will not be counted towards the Guide.
• PIPE investments:The Guide counts capital raised for investment
in private companies. Therefore, we do not count capital raised
primarily for PIPE deals.A fund that has a few PIPE deals may be
counted.
WHAT COUNTS AS CAPITAL RAISED?
• Limited partnerships: In most cases, private equity firms raise
money through commitments to limited partnerships.In some cases,
investment capital is raised in other ways, for example through con-
tributions from an affiliated entity or through public offerings. In all
these cases we seek to accurately determine how much investment
capital has been created for the financial sponsor in question over the
specified five-year period.
• Co-investment capital:Where possible and appropriate,we count
co-investment vehicles as well as opportunistic co-investment capital
raised by private equity sponsors. In deals where multiple sponsors
have raised co-investment capital, you should count only your firm’s
pro-rata share of the co-investment capital raised.(In other words,if
your firm and three other firms raise $1 billion in LP co-investment
capital for a deal,you cannot count the whole $1 billion as yours.)You
do not need to name the individual deals for which co-investment
capital was raised, although we would appreciate this information.
• Separate accounts:We include capital raised for separate accounts,
as long as the fund manager has full discretion over all investments.
• Public entities:We count the capital raised by private equity firms
that happen to be publicly traded.We also count capital raised in
the format of public vehicles controlled by private equity firms so
long as those public entities commit capital primarily to direct pri-
vate equity programmes.This should automatically take into account
recycled capital.
• Seed capital or GP commitment:You may count as capital raised
any seed capital committed to any fund raised by your firm.
• Recycled capital:We seek to include the value of recycled capital
within the five-year period if the recycled capital was earmarked for
direct private equity investment.
• Affiliated programmes:You may count private equity capital raised
by affiliated entities so long as your firm has control over those entities,
or the vehicles raised bear the clear branding of your firm.
• Contributions from sponsoring entities:Where a larger entity
has earmarked capital to your firm for a dedicated,direct private equity
programme,youshouldcounttheamountofcapitalyourfirmhasdrawn
down from that entity for direct private equity deals over the defined
five-year period.
WHAT DOES NOT COUNT AS CAPITAL RAISED?
• Expected capital commitments: No matter how confident you
are about your eventual fundraising goals, we do not count ‘soft-‘ or
‘hard-circled’ commitments – only official final and interim closes.
• Opportunistic capital: An entity that has the ability to opportun-
istically do large private equity deals, but does not have a dedicated
programme or team for doing so, will not be counted. In other words,
a large group that has the ability to tap $40 billion in equity won’t be
counted unless that equity has been segregated into a specific vehicle or
programme and assigned a dedicated private equity direct-investment
team which is actively scouting for deals.
FINDINGS
One hundred private equity fund managers from 11 countries comprise
thisyear’sPEIAPACFundManager’sGuide.China,HongKongandtheUnited
Statesarehometomostofthesefirmsandoccupyallofthefirst10spotsin
theranking.FortyfundmanagersontherankingareChina-headquartered,
leading by Hony Capital.Sixteen firms are based in Hong Kong,including
threeofthetopfourfirmsonourlist–RRJCapital,BaringPrivateEquity
Asia and PAG.Thirteen firms are from the U.S., most of which are well
known global investors such as Kohlberg Kravis Roberts (KKR), Bain
Capital,The Carlyle Group andTPG.
FromJanuary2011toMarch2016,thetop100fundmanagerstogether
corralled a total of $181 billion for their qualified investment vehicles
dedicating to investments in Asia-Pacific region. China alone attracted
$76 billion country-focused capital. It is followed by South Korea and
India which have attracted approximately $11 billion for each.The largest
fundraising in this period was the $6 billion KKR Asian Fund II which
was closed in June 2013 as the largest-ever pan-Asian private equity fund.
It is followed by RRJ Capital III which was closed in September 2015 at
$4.5 billion, BaringAsia Private Equity FundVI which reached nearly $4
billion final close in February 2015, and Carlyle Asia Partners IV which
was closed in September 2014 with a size of $3.9 billion.
In the first quarter of 2016, the largest final close comes from the
$920 million Sequoia Capital IndiaV.The largest interim close is by Hony
Capital which has raised $1.5 billion for its FundVIII as of the Guide’s
cut-off date.By the end ofApril,Hony has raised $2.2 billion for the fund
as well as a $500 million parallel separate account. n
More questions? Contact ShawnWang at shawn.w@peimedia.com or +852 2153 3247

NO. OF MANAGERS BY HEADQUARTERS
CAPITAL RAISED BY YEAR ($BN) CAPITAL RAISED BY STRATEGY
40
35
30
25
20
15
10
5
0
$50
$45
$40
$35
$30
$25
$20
$15
$10
$5
$0
China
2011 2012 2013 2014 2015 2016
(as of
31 March)
IndiaUnited
States
Singapore FranceHong
Kong
Australia MalaysiaSouth
Korea
Japan UK
No.ofmanagers
$bn
$bn
Source: PEI Research and Analytics
Source: PEI Research and Analytics Source: PEI Research and Analytics
40
16
$46.6
$28.7
$26.7
$32.7
$39.6
$3.5
13
9
6
5
4
3 2
1 1
COUNTRY-FOCUSED
FUNDRAISING ($BN)
$80
$70
$60
$50
$40
$30
$20
$10
%0
China South
Korea
India Aus/
NZ
Japan
Source: PEI Research and Analytics
$75.9
$11.0 $10.5
$5.0 $4.3
Buyout $87.4bnGrowth/VC
$86.0bn
Distressed $3.2bn Others $0.9bn
Top 100

2016 Rank Fund Manager
PEI APAC Fund Manager’s Guide
Fundraising ($mn)
Headquarters
1 RRJ Capital $10,400 Hong Kong
2 Baring Private Equity Asia $6,440 Hong Kong
3 Hony Capital $6,232 China
4 PAG $6,160 Hong Kong
5 Kohlberg Kravis Roberts (KKR) $6,000 United States
6 The Carlyle Group $5,167 United States
7 Bain Capital $5,000 United States
8 Affinity Equity Partners $4,180 Hong Kong
9 CITIC Private Equity Funds Management $4,168 China
10 CDH Investments $3,973 Hong Kong
11 TPG $3,592 United States
12 CVC Capital Partners $3,495 United Kingdom
13 Taoshi Equity Investment Management $3,100 China
14 Primavera Capital Group $2,893 China
15 China Development Bank (CDB) $2,856 China
16 YunFeng Capital $2,805 China
17 IDG Ventures $2,682 United States
18 Hahn & Co. $2,681 South Korea
19 MBK Partners $2,680 South Korea
20 Sequoia Capital $2,676 United States
21 Boyu Capital $2,500 Hong Kong
22 Northstar Group $2,062 Singapore
23 Shanghai International Group (SIG, Sailing Capital) $2,008 China
24 Hillhouse Capital Management $2,000 China
25 Morgan Stanley Investment Management $1,979 United States
26 Equis $1,956 Singapore
27 Shunwei Capital Partners $1,909 China
28 Macquarie Group $1,900 Australia
29 Qiming Venture Partners $1,848 China
30 GGV Capital $1,832 United States
31 Multi Asset Global Investment (formerly KDB Asset Management) $1,825 South Korea
32 Legend Capital $1,785 China
33 Pacific Equity Partners $1,720 Australia
34 New Horizon Capital $1,594 Hong Kong
35 Archer Capital $1,588 Australia
36 Navis Capital Partners $1,575 Malaysia
37 Orchid Asia $1,570 Hong Kong
38 Yanchang Petroleum Group $1,566 China
39 Trustbridge Partners $1,564 China
40 Matrix Partners $1,500 United States
41 SAIF Partners $1,475 Hong Kong
42 Morningside Ventures $1,463 China
43 GP Capital $1,428 China
44 Farallon Capital Management $1,425 United States
45 Development Bank of Japan (DBJ) $1,401 Japan
46 Fosun Capital Group $1,386 China
47 Anchor Equity Partners $1,350 Hong Kong
48 FountainVest Partners $1,350 Hong Kong
49 SSG Capital Management $1,315 China
50 Everstone Capital $1,310 Singapore
Top 100

2016 Rank Fund Manager
PEI APAC Fund Manager’s Guide
Fundraising ($mn)
Headquarters
51 Bright Stone (Beijing) Investment Management $1,291 China
52 Goldstone Investment $1,271 China
53 JP Morgan Asset Management $1,208 United States
54 China Merchants Capital $1,183 China
55 Q Capital Partners $1,152 South Korea
56 Crescent Capital Partners $1,119 Australia
57 Hopu Investment Management $1,100 China
58 Multiples Alternate Asset Management (Multiples Private Equity) $1,095 India
59 CITIC Capital $1,030 Hong Kong
60 Japan Industrial Solutions $1,020 Japan
61 Tata Capital $1,020 India
62 China Everbright Investment Management $1,013 Hong Kong
63 China-ASEAN Capital Advisory Company $1,000 Hong Kong
64 Inventis Investment Holdings (China) $1,000 China
65 L Capital Management $980 France
66 Ascendent Capital Partners (Asia) Limited $965 Hong Kong
67 Unison Capital $890 Japan
68 Blue Economy Zone Industrial Fund Management $866 China
69 ChrysCapital $860 India
70 China International Capital Corporation $855 China
71 STIC Investments $855 South Korea
72 Nexus Venture Partners $850 India
73 Softbank China Venture Capital $845 China
74 ICICI Venture $825 India
75 Haitong Securities $818 China
76 Banyan Capital $809 China
77 Harvest Fund Management $800 China
78 Vision Knight Capital $800 China
79 Agricultural Bank of China $796 China
80 TaiKang Asset Management $794 China
81 The Blackstone Group $793 United States
82 Aerospace Industry Investment Fund Management $780 China
83 Guangdong Zhongguang Investment Management $775 China
84 BOC Yuecai Private Equity $775 China
85 Yellow River Delta Industry Fund Management $775 China
86 KB Investment $773 South Korea
87 Goldman Sachs Merchant Banking Division $771 United States
88 Quadrant Private Equity $764 Australia
89 Woori Asset Management $750 South Korea
90 China Science & Merchants Investment (Fund) Management (CSMI) $742 China
91 Shinhan Private Equity $730 South Korea
92 Creador $712 Malaysia
93 India Value Fund Advisors $700 India
94 Summitview Capital $663 China
95 IMM Private Equity $642 South Korea
96 China Culture Industrial Investment Fund Management $636 China
97 Cinda Capital $635 China
98 Shenyang Darui Investment Management Company $620 China
99 Olympus Capital Holdings Asia $607 Hong Kong
100 Saratoga Capital Group $600 Singapore

RRJ CAPITAL
HONY CAPITAL
BARING PRIVATE EQUITY ASIA
PAG
1
3
2
4
Latest final / interim closes
Total AUM: USD11 billion (as of Dec 2015)
Global HQ: 802-804, Man Yee Building, 68 Des Voeux Road,
Central, Hong Kong
Tel: +852 3915 6222
Web: www.rrjcap.com
Year Founded: 2011
Fund Strategy: Buyout
Sector Focus: Financial Services, Consumer Goods, Agriculture,
Natural Resources
Total AUM: CNY65 billion (as of May 2016)
Global HQ: 6th floor, South Tower C, Raycom InfoTech Park,
No. 2, Ke Xue Yuan Nan Lu, Haidian District, Beijing, China
Tel: +86 10 8265 5888
Web: www.honycapital.com
Year Founded: 2003
Sector Focus: Consumer, Healthcare, Service, Industrials
Total AUM: USD10 billion (as of Mar 2016)
Global HQ: Suite 3801, Two International Finance Centre,
8 Finance Street, Hong Kong
Tel: +852 2843 9300
Web: www.bpeasia.com
Year Founded: 1997
Fund Strategy: Growth
Sector Focus: Diversified
Total AUM: USD14.5 billion (as of Feb 2016)
Global HQ: 15/F, AIA Central, 1 Connaught Road Central,
Hong Kong
Tel: +852 2918 0088
Web: www.pagasia.com
Year Founded: 2002
Fund Strategy: Buyouts
Fund Name Fund Amount (mn) Primary Strategy
RRJ Capital III USD4,500 Buyout
RRJ Capital II USD3,600 Buyout
RRJ Capital USD2,300 Buyout
Hony PE RMB Fund II CNY10,000 Buyout
Hony Fund V USD2,368 Buyout
Hony Capital Fund VIII (a separate account included) USD2,700 (as of Apr 2016) Buyout
Baring Asia Private Equity Fund VI USD3,980 Growth
Baring Asia Private Equity Fund V USD2,460 Growth
PAG Asia Capital II USD3,660 Buyout
PAG Asia Capital I USD2,500 Buyout
For an extended profile, see page 9

KOHLBERG KRAVIS ROBERTS (KKR)
THE CARLYLE GROUP
AFFINITY EQUITY PARTNERS
5
6
8
Global HQ: 9 West 57th Street, Suite 4200, New York, United States
Tel: +1 212 750 8300
Web: www.kkr.com
Year Founded: 1976
Fund Strategy: Growth, Buyout
Global HQ: 1001 Pennsylvania Avenue, NW, Washington DC,
United States
Tel: +1 202 729 5626
Web: www.carlyle.com
Year Founded: 1987
Fund Strategy: Growth, Buyout, Distressed / Turnaround
Total AUM: USD8 billion
Global HQ: Suite 4002, 40th Floor One Exchange Square,
8 Connaught Place Central, Hong Kong
Tel: +852 3102 8329
Web: www.affinityequity.com
Year Founded: 2004
Fund Strategy: Buyout, Growth
Sector Focus: Financial Services, Consumer Goods, Healthcare,
TMT, Business Services
KKR Asian Fund II USD6,000 Buyout
Carlyle Asia Partners IV USD3,880 Buyout
Carlyle Japan Partners III JPY119,500 Buyout
Affinity Asia Pacific Fund IV USD3,800 Buyout
BAIN CAPITAL
7
Total AUM: More than USD75 billion
Global HQ: 200 Clarendon Street, Boston, United States
Tel: +1 617 516 2000
Web: www.baincapital.com
Year Founded: 1984
Sector Focus: Diversified (Bain Capital Private Equity, Bain Capital
Credit, Bain Capital Ventures, Bain Capital Public Equity)
Bain Capital Asia Fund III USD3,000 Buyout
Bain Capital Asia Fund II USD2,000 Buyout

HONYCAPITAL
FUNDS IN MARKET
FIRM BACKGROUND
Hony Capital is a leading China-focused buyout private equity firm with investment history dated from 2003. As of now, we manage
eight Private Equity funds and two Mezzanine funds totalling around CNY65 billion. We have made more than 90 investments
from our private equity funds to date, across sectors of consumer, healthcare, services and industrials.
Hony strategically targets opportunities in Chinese State-Owned Enterprise (“SOE”) Marketization and has long been the
undisputed leader in this area in China, having invested more than US$2.5 billion in 25 SOEs with more than 4.0x Multiple
of Capital achieved from realized investments in SOE. We have developed and built sector management platforms for buyout
investment in restaurant and hospital respectively. We also recognize and capture systemic opportunity featured by the shift from
gathering global capital and investing in Chinese enterprises to bilateral cross-border M&As and serving the Chinese market.
Value creation is the core philosophy behind Hony’s investment strategy. Our strong in-house capabilities experienced in the
China market from our consulting teams, portfolio management specialists, interim CXOs and operating partners have created and
will be creating unique value for our portfolio companies in operation, management, strategy and development.
As a country manager in China, we have established our brand as a reputable, resourceful and reliable partner. The connections
and resources of our Hony franchise and access to the broader network of our sponsor, Legend Holdings, have contributed to our
strong sourcing and value creation capabilities.
Through more than 13 years of investment practice across all economic cycles, we have built-up our China Expertise. Since our
establishment, we have been sourcing proprietary opportunities, partnering with visionary management teams, innovating compelling
transaction models, building industry leaders, and creating value across a selected range of industries and geographic regions.
We have a team of 180 professionals located in our Beijing, Shanghai and Hong Kong offices. Our investment team has in-depth
industry knowledge and are supported by our highly institutionalized platform, our consulting professionals and sector operating
specialists.
CONTACTS
Contact Office Title Email
Xihong DENG Beijing Managing Director, Investor Management Department dengxha@honycapital.com
Jiong GU Beijing Director, Investor Management Department gujiong@honycapital.com
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
2003
Buyout
Consumer, Healthcare, Service, Industrials
AUM: CNY65 billion (as of May 2016)
Global HQ
6th floor, South Tower C, Raycom InfoTech Park, No. 2,
Ke Xue Yuan Nan Lu, Haidian District, Beijing, China
Tel: +86 10 8265 5888 Web: www.honycapital.com
Fund Name Fund Amount (mn) Fund Strategy
Hony Capital Fund I USD38 Buyout
Hony Capital Fund II USD88 Buyout
Hony Capital Fund III USD580 Buyout
Hony Capital Fund 2008 USD1,398 Buyout
Hony Capital RMB Fund I CNY5,000 Buyout
Hony Capital RMB Fund II CNY10,000 Buyout
Hony Capital Fund V USD2,368 Buyout
Hony Capital Fund VIII (a separate account included) USD2,700 (as of Apr 2016) Buyout
Hony Capital Mezzanine Fund I CNY1,040 Mezzanine
Hony Capital Mezzanine Fund II CNY2,050 Mezzanine
3

CITIC PRIVATE EQUITY FUNDS MANAGEMENT
TPG
CDH INVESTMENTS
CVC CAPITAL PARTNERS
9
11
10
12
Total AUM: CNY45 billion
Global HQ: 10/F Jinbao Tower No. 89, Jinbao Street,
Dongcheng District, Beijing, China
Tel: +86 10 8507 9001
Web: www.citicpe.com
Year Founded: 2008
Fund Strategy: Growth, Buyout, Mezzanine / Debt
Total AUM: USD74.3billion (as of Jun 2015)
Global HQ: 301 Commerce Street, Suite 3300, Fort Worth,
United States
Tel: +1 817 871 4000
Web: www.tpg.com
Year Founded: 1992
Fund Strategy: Growth, Buyout, Distressed / Turnaround
Total AUM: USD19.6 billion (as of Jun 2015)
Global HQ: 1503 International Commerce Center,
1 Austin Road West, Kowloon, Hong Kong
Tel: +852 3518 8000
Web: www.cdhfund.com
Year Founded: 2002
Fund Strategy: Growth, Buyout, Venture Capital, Mezzanine / Debt
Sector Focus: Consumer Goods, Clean Tech / Renewable,
Healthcare, Retail, TMT
Global HQ: 111 Strand, London, United Kingdom
Tel: +44 20 7420 4200
Web: www.cvc.com
Year Founded: 1981
Fund Strategy: Growth, Buyout, Mezzanine / Debt
CPE China Fund II USD1,290 Growth
CITIC Private Equity Fund III CNY11,900 Growth
CPE China Fund USD990 Growth
TPG Asia VI USD3,270 Distressed / Turnaround
CDH RMB VC II CNY457 Growth
CDH Fund V USD2,550 Buyout
CDH Venture Partners III USD106 Venture Capital
CVC Asia Pacific Fund IV USD3,495 Growth

BAINCAPITAL
FIRM BACKGROUND
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms with more than $75 billion of assets under
management that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding
in 1984, we’ve applied our insight and experience to organically expand into several asset classes including private equity, credit, public
equity and venture capital. We leverage our shared platform to capture cross-asset class opportunities in strategic areas of focus. With
offices on four continents, our global team aligns our interests with those of our investors for lasting impact.
Jonathan Zhu, Managing Director, Private Equity
David Gross-Loh, Managing Director, Private Equity
Jim Hildebrandt, Managing Director (Investor Relations),
Private Equity
KEY PERSONNEL
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
1984
Growth, Buyout (Private Equity)
Diversified (Bain Capital Private Equity, Bain Capital
Credit, Bain Capital Ventures, Bain Capital Public Equity)
Bain Capital Asia Fund III USD3,000 Buyout
Bain Capital Asia Fund II USD2,000 Buyout
Bain Capital Asia Fund I USD1,000 Buyout
AUM: More than USD75bn (across asset classes)
Global HQ: 200 Clarendon Street, Boston, United States
Tel: +1 617 516 2000
Asia HQ: Unit 5101, 51/F, Cheung Kong Center, 2 Queen’s
Road Central, Hong Kong
Tel: +852 3656 6800
Web: www.baincapital.com
7
TAOSHI EQUITY INVESTMENT MANAGEMENT
PRIMAVERA CAPITAL GROUP
13
14
Global HQ: Room 205, Block 16, 600 Minsheng Road, Pudong,
Shanghai, China
Tel: -
Web: -
Year Founded: 2010
Sector Focus: Energy / Oil & Gas, Natural Resources
Total AUM: USD2.9 billion
Global HQ: 48/F, China World Tower 3,
1 Jian Guo Men Wai Avenue, Beijing, China
Tel: +86 10 8559 8988
Web: www.primavera-capital.com
Year Founded: 2010
Taoshi Energy Equity Investment Fund I CNY20,000 Growth
Primavera Capital RMB Fund I (Chunhua RMB Fund I) CNY3,030 Growth
Primavera Capital Fund II USD400 Growth

NAVISCAPITALPARTNERS
FUNDS IN MARKET
FIRM BACKGROUND
Navis Capital Partners (“Navis”) has a well-established track record of making controlling investments in Asia, particularly in private
enterprises with a strong or developing presence in Southeast Asia, Australia and China/Hong Kong.
The firm manages several private and public equity funds totalling US$ 5 billion. Our investors are national, state and corporate
pension funds, insurance companies, corporations and foundations, as well as high net worth individuals and family offices. The investor
base is distributed evenly between North America, Europe and Asia/MENA.
Navis acquires control of its portfolio companies and has made over seventy controlling investments since inception in 1998. All
Navis’ portfolio companies are intended to be leaders or near leaders in their respective industries and segments with a clear competitive
advantage that makes them attractive to trade buyers. Navis has completed over 40 exits, almost all have been to trade buyers and none
have been via the more unpredictable IPO route.
Navis works in a close partnership with the founders and management teams of the portfolio companies, contributing both capital and
management expertise with the objective of directing strategic, operational and financial improvements, typically through initiatives that
drive growth, margin improvement and asset efficiency. Navis is committed to improving the ‘Environmental, Social and Governance’
(“ESG”) practices of its portfolio companies, and has proven beyond internal doubt that ESG can be an important lever for value creation.
Navis’ investment model places a low reliance on leverage to drive its equity returns.
Navis is one of the largest and most experienced private equity teams in Asia with over 60 professionals that are supported by over 30
administrative staff. Navis’ team of private equity professionals collectively constitute a strong combination of strategic, operational and
financial experience from positions in management consultancy, private equity, investment banking, securities analysis, leveraged finance,
legal and industry. Navis’ teams are regionally distributed and work across eight offices throughout the Asia Pacific region – in Bangkok,
Ho Chi Minh, Hong Kong, Kuala Lumpur, Mumbai, Singapore, Shanghai and Sydney. Our deep local presence across Asia Pacific affords
the firm unmatched insight into investment opportunities across the region and ensures that Navis has the capability to actively drive the
growth of our portfolio companies both domestically and across (and where appropriate, outside of) the region.
KEY PERSONNEL
Contact Office Title Email
Nicholas Bloy Kuala Lumpur Managing Partner nbloy@naviscapital.com
Rodney Muse Kuala Lumpur Managing Partner rmuse@naviscapital.com
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
1998
Control in Growth and/or Buyout Opportunities
Consumer Goods
Education
Healthcare
Manufacturing
Retail
AUM: US$ 5 billion (inc public equities funds)
Global HQ
Level 17, Axiata Tower
9 Jalan Stesen Sentral V
50450 Kuala Lumpur, MALAYSIA
Tel: +603 2302 3888 Web: www.naviscapital.com
Private Fund Platform (US$m)
Fund(s) Vintage Equity Raised (US$m) Locations targeted Status
Fund I/II 1999 $68 ASEAN Exited
Fund III 2001 $86 ASEAN/Australia/India Exited
Fund IV 2004 $315 ASEAN/Australia/India/China Fully Invested
NAF V 2007 $1000 ASEAN/Australia/India/China Fully invested
NAF VI 2009 $1200 ASEAN/Australia/India/China Fully invested
NAF VII 2013 $1500 ASEAN/Australia/China Investing
36

Navis has completed over seventy control investments. We know
that a control position provides Navis the platform to create and
drive the strategic agenda with management, support key initiatives,
intervene decisively if performance is off-track, and to drive the exit
process. This strategy has delivered good liquidity and returns for
our investors and Navis.
Navis’ approach to investing will remain largely unchanged, albeit
benefiting from both positive and negative lessons learned over the
last 18 years. An emerging investment theme is to selectively back
Asian companies to take advantage of opportunities outside of Asia,
as well as to help non-Asian companies with an Asian beachhead
or opportunity. Whether an opportunity is outbound from, or
inbound to Asia, Navis’ multinational, multicultural and multilingual
capability can assist management teams to navigate the complexities
of growing and succeeding in international markets.
Navis will continue to improve the focus and rigour applied to
ESG issues to ensure practices are world class, a proven driver of
shareholder value.
Navis’ geographic footprint is focused on the countries of
Southeast Asia, Australia and China. An office will open in Indonesia
within the next 24 months, and we are considering the merits of
establishing a European and/or US capability for investment sourcing
and portfolio company support.
Navis is 100% owned by its working partners, and every
professional and support staff member of the firm enjoys an
entitlement to carried interest.
STRATEGIC CORPORATE DEVELOPMENT
INVESTMENT PRINCIPLES & STRATEGY
Navis is a controlling investor in order to be i) in a position to drive
an ambitious value-creation agenda; and ii) able to exit to trade buyers
(who typically want to buy 100% of any company they acquire), and
thereby eliminate the typical private equity reliance on unpredictable
and often illiquid public markets.
In the case of Navis’ earlier funds, where our impact has been felt the
longest, approximately three-quarters of the value that Navis created
is derived through increasing the profits of our portfolio companies,
rather than through financial leverage. Navis’ portfolio companies
generally enjoy multiple expansion between entry and exit, which we
attribute not to serendipitous timing, but to an improved competitive
position and the development of high standards of ESG practice, both
of which command a premium from demanding MNC buyers.
Navis targets established mid-market companies with leadership
or near-leadership positions in their respective industry segments.
These companies generally have strong, profitable foundations, but
typically lack certain key attributes required to transition to a higher
level of size, sophistication and geographic scope. Navis provides
financial and intellectual capital towards initiatives that target growth,
asset efficiency, margin improvement and enhanced cash generation.
Navis professionalizes these companies by strengthening management
teams and committing them to ESG practices which are increasingly
important for companies to be able to participate in a global
environment.
SECTOR FORECAST
Navis believes that Southeast Asia provides attractive opportunities
for private equity investing. The economies of the region have
outperformed the US and Europe almost continuously for thirty
years in terms of GDP growth, emerging as one of the world’s
fastest growing regions. Navis believes that the long term growth
profile of Southeast Asia continues to be attractive as trade linkages
within and across the region continue to strengthen.
The region’s continued industrialisation and urbanization is
estimated to see a further 100 million people move into urban areas
within the next decade. This shift will sustain sizable investment
into infrastructure, housing and commercial space. Development
of this scale will continue to move the region’s labour force away
from agriculture and into the higher value adding and more
productive manufacturing and services sectors. Growth will come
not only from industries that service infrastructure development,
such as industrial products and equipment, but also from industries
such as FMCG, retail, healthcare and education that cater to an
enlarging consumer class with increasing affluence.
Withthis,weexpectthatSoutheastAsiawillbecomeincreasingly
interconnected with the global economy and should see greater
share of global trade flows. The ‘ASEAN Economic Community’
integration plan is increasing regional trade flows and enabling
cross-border growth catalysed by the creation of a single market
with a fast-growing population of ~ 650 million relatively young,
literate and increasingly affluent people. With various bi-lateral
and multi-lateral trade agreements already underway (including
‘ASEAN + 3’ and the ‘Trans-Pacific Partnership Agreement’,
selected economies in the region are well-placed to increase their
share of export markets, particularly to the United States and
Japan. We expect that economies within the region will continue
to increase the coverage of their free trade agreements, especially
with the European Union and economies in the MENA region.
Geographically, Southeast Asia is also ideally located to be buoyed
by the growth of its neighbours India and China.
The positive macro environment within Southeast Asia creates
sizable opportunities for enterprise as well as intensifies the level
of competition throughout the region. Local market leaders have
the opportunity to go regional and use the newfound scale of
an interconnected ASEAN to challenge globally but will need to
contend with increased competition from other regional operators
and foreign multi-nationals.
The need for private equity in the region has never been
greater. Many enterprises are at a stage of generational change, as
first generation entrepreneurs enter retirement, and many others
require significant capital to invest to build capacity as well as
improve productivity.

IDG VENTURES
CHINA DEVELOPMENT BANK (CDB)
HAHN & CO.
YUNFENG CAPITAL
17
15
18
16
Total AUM: USD6.8 billion (as of Mar 2015)
Global HQ: One Letterman Drive, Building D, Suite 100,
The Presidio of San Francisco, San Francisco, United States
Tel: +1 415 439 4420
Web: www.idgventures.com
Year Founded: 1992
Fund Strategy: Venture Capital, Growth
Sector Focus: Biotech / Life Science, Energy / Oil & Gas,
Healthcare, TMT
Total AUM: -
Global HQ: No. 18 Fuxingmennei Street, Xicheng District, Beijing,
China
Tel: +86 10 6830 6789
Web: www.cdb.com.cn
Year Founded: 1994
Global HQ: Hahn & Company, 21 F Ferrum Tower, 19,
Eulji-ro 5-gil, Jung-gu, Seoul, South Korea
Tel: +82 2 6353 7900
Web: www.hcompany.com
Year Founded: 2010
Total AUM: USD2.8 billion (Est.)
Global HQ: Room 3501, 35th floor, K. Wah Centre,
No. 1010, Middle Huaihai Rd., Shanghai, China
Tel: +86 21 3127 0909
Web: www.yfc.cn
Year Founded: 2010
Sector Focus: Consumer Goods, Clean Tech / Renewable, TMT,
Entertainment
IDG-SMBA VC Fund KRW100,000 Venture Capital
IDG China Venture Capital Fund IV USD586 Venture Capital
Hahn & Co II USD1,230 Buyout
CDB Development Fund CNY18,000 Buyout
YunFeng Capital Fund II USD1,100 Growth
YunFeng Capital Fund I (USD & RMB Funds) CNY10,000 Growth

Total AUM: USD10.1 billion (as of Apr 2016)
Global HQ: 22F, D Tower D1, 17 Jongno 3-gil, Jongno-gu, Seoul,
South Korea
Tel: +82 2 3706 8600
Web: www.mbkpartnerslp.com
Year Founded: 2005
Sector Focus: Financial Services, Healthcare, Retail, TMT
MBK PARTNERS
SEQUOIA CAPITAL
19
20
Total AUM: USD5.4 billion (as of Dec 2015)
Global HQ: 2800 Sand Hill Road, Suite 101, Menlo Park,
United States
Tel: +1 650 854 3927
Web: www.sequoiacap.com
Year Founded: 1972
Sector Focus: Financial Services, Energy / Oil & Gas, Healthcare,
TMT
MBK Partners Fund III USD2,680 Buyout
Sequoia Capital India V USD920 Venture Capital
Sequoia Capital China Growth Fund III USD625 Growth
Sequoia Capital India IV USD740 Venture Capital
SSGCAPITALMANAGEMENT
FIRM BACKGROUND
SSG Capital Management is an alternative asset management firm in the Asia Pacific region, with over US $2 billion of assets under
management. The firm was founded in 2009 with a fundamental-driven value investing approach by a team of senior professionals
with extensive investment experience in Asia. SSG Capital Management Group has offices in Hong Kong, Singapore, Shanghai,
Mumbai, Mauritius, Bangkok and Jakarta, with its Hong Kong, Singapore, Mauritius and Thailand entities regulated and licensed
by the Hong Kong Securities and Futures Commission, the Monetary Authority of Singapore, the Mauritius Financial Services
Commission and the Bank of Thailand respectively.
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
2009
Special Situations, Distressed and Private Credit
Diversified
Fund Name Fund Amount Final Close Fund Strategy
SSG Capital Partners II, L.P. US $ 400mn 26 Oct 2012 Special Situations/Distressed
SSG Capital Partners III, L.P. US $ 915mn 15 May 2014 Special Situations/ Distressed
SSG Secured Lending Opportunities I, L.P. US $ 325mn 17 Sep 2015 Private Credit
AUM: US$2 billion
Asia HQ:
Suite 7903, The Center, 99 Queen’s Road Central,
Hong Kong, SAR
Tel: +852-3909-8888
Website: www.ssgasia.com
49

BOYU CAPITAL
SHANGHAI INTERNATIONAL GROUP (SIG, SAILING CAPITAL)
NORTHSTAR GROUP
HILLHOUSE CAPITAL MANAGEMENT
21
23
22
24
Global HQ: Suite 1508, 15F, Hutchison House, 10 Harcourt Road,
Central, Hong Kong
Tel: +852 3987 1788
Web: www.boyucapital.com
Year Founded: 2010
Total AUM: CNY1801 billion (as of Dec 2014)
Global HQ: No.511 Weihai Road, Shanghai, China
Tel: +86 21 2219 1111
Web: www.sigchina.com
Year Founded: 2000
Total AUM: USD2 billion (as of Apr 2016)
Global HQ: Unit #35-05, 6 Battery Road, Singapore
Tel: +65 6533 3210
Web: www.nsgroup.com
Year Founded: 2006
Sector Focus: Natural Resources, TMT
Global HQ: Floor 28, Building B, PingAn International Financial
Center, No. 1-3 Xinyuan South Road, Chaoyang District, Beijing, China
Tel: +86 10 5952 0800
Web: www.hillhousecap.com
Year Founded: 2005
Sector Focus: Consumer Goods, Healthcare, TMT
Boyu Capital Fund II USD1,500 Growth
Boyu Capital Fund I USD1,000 Growth
Sailing Logistics Funds CNY1,000 Buyout
Sailing New Culture Private Equity Fund I USD109.6 Growth
Northstar Equity Partners IV USD810 Growth
Northstar Equity Partners III USD820 Growth
Hillhouse Capital Fund I USD2,000 Growth

CRESCENTCAPITALPARTNERS
FIRM BACKGROUND
Crescent invests in middle market companies in Australia and New Zealand, typically with enterprise values of AUD$50 million
to AUD$300 million. Crescent’s investment focus is on companies with potential for strong earnings growth and industries that
are undergoing structural change or that are set for consolidation. The investment team of over twenty professionals has strategy
consulting and operating backgrounds, enabling the firm to provide value added support to portfolio companies. Although sector
agnostic, Crescent has expertise in financial services, branded and industrial businesses and has been the most active private equity
player in healthcare in Australia measured by number of investments made.
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
KEY CONTACTS
2000
Growth Buyout
Diversified
Contact Office Title email
Michael Alscher Sydney Managing Partner mail@crescentcap.com.au
Neville Buch Sydney Partner mail@crescentcap.com.au
Tim Martin Sydney Partner mail@crescentcap.com.au
Nat Thomson Sydney Partner mail@crescentcap.com.au
AUM: AUD1.6 billion
Global HQ:
Lvl 29 Governor Phillip Tower, 1 Farrer Place,
Sydney, NSW 2000
Australia
Tel: +61 2 9220 8100 Website: www.crescentcap.com.au
Crescent V (2015) AUD$675m Growth buyout
Crescent IV (2012) AUD$495m Growth buyout
Crescent III AUD$400m Growth buyout
56
MORGAN STANLEY INVESTMENT MANAGEMENT
EQUIS
25
26
Global HQ: 1585 Broadway, New York, United States
Tel: +1 212 761 4000
Web: www.morganstanley.com
Year Founded: 1975
Global HQ: 1 George Street #14-04, One George Street, Singapore
Tel: +65 6220 0040
Web: www.equisfg.com
Year Founded: 2010
Sector Focus: Clean Tech / Renewable, Energy / Oil & Gas
North Haven Private Equity Asia IV USD1,700 Buyout
Equis Asia Fund II USD1,010 Growth
Equis Direct Investment Fund USD298.6 Growth

Global HQ: 3000 Sand Hill Road, Building 4, Suite 230, Menlo Park,
United States
Tel: +1 650 475 2150
Web: www.ggvc.com
Year Founded: 2000
Fund Strategy: Venture Capital
Sector Focus: TMT
SHUNWEI CAPITAL PARTNERS
MACQUARIE GROUP
27
28
Global HQ: 1401-1402, Block A Stone World Building,
No. 50 Wangjing West A, Chaoyang District, Beijing, China
Tel: +86 10 5985 1516
Web: www.shunwei.com
Year Founded: 2011
Sector Focus: TMT
Total AUM: AUD487 billion (as of Dec 2015)
Global HQ: Level 15, No 1 Martin Place, Sydney, Australia
Tel: +61 2 8232 3333
Web: www.macquarie.com.au
Year Founded: 1970
Shunwei RMB Fund CNY1,000 Venture Capital
Shunwei China Internet Fund III USD1,000 Venture Capital
Macquarie Korea Opportunities Fund II AUD700 Buyout
QIMING VENTURE PARTNERS
GGV CAPITAL
29
30
Total AUM: USD2.5 billion (as of Mar 2016)
Global HQ: Room 3901 Jinmao Tower, 88 Century Boulevard,
Shanghai, China
Tel: +86 21 6101 6522
Web: www.qimingventures.com
Year Founded: 2006
Healthcare, TMT
Qiming Venture Partners V USD648 Venture Capital
Qiming Venture Partners IV USD500 Venture Capital
Qiming RMB Fund III CNY500 Venture Capital
GGV Capital Select USD457 Venture Capital
GGV Capital V USD621.9 Venture Capital

MULTI ASSET GLOBAL INVESTMENT (FORMERLY KDB ASSET
MANAGEMENT)
LEGEND CAPITAL
31
32
Total AUM: KRW8900 billion (as of Dec 2015)
Global HQ: 16th Floor, 56 Gukegeumyung-ro, yeongdeungpa-gu,
Seoul, South Korea
Tel: +82 2 3774 8000
Web: multiasset.miraeasset.co.kr
Year Founded: 1996
Global HQ: 16F, Tower B, Raycom Infotech Park,
No. 2 Kexueyuan South Road, Zhongguancun, Beijing, China
Tel: +86 10 8913 9000
Web: www.legendcapital.com.cn
Year Founded: 2001
Growth Ladder Fund KRW2,000,000 Growth
LC Healthcare Fund I USD250 Growth
LC Fund VI USD500 Growth
TATACAPITAL
FIRM BACKGROUND
The Tata Opportunities Fund (TOF), the Tata group’s flagship private equity fund and the largest fund within Tata Capital Private
Equity, is a USD 600 mn private equity fund raised primarily from large, institutional investors from Asia and North America. TOF’s
strategy focuses on investing in market leading businesses centered on India through proprietary deals that leverage the Tata brand
and ecosystem. The Fund aims on working with the strongest sponsor groups with the highest standards of governance. TOF is sector
agnostic and typical invests USD 30 – 100 mn per transaction. The Fund is expected to be fully deployed in 2016 and plans to raise a
successor fund with a similar fund size and strategy.
YEAR FOUNDED
INVESTMENT STRATEGY
KEY CONTACTS AT TATA
OPPORTUNITIES FUND
2009
Multi-stage
AUM: USD 1 billion
Global HQ:
11A Peninsula Business Park, Lower Parel,
Mumbai -400013. India.
Tel: +91 22 6606 9000
Website:
http://online.tatacapital.com/Private_Equity/Index.htm
Fund Name Fund
Amount (mn)
Fund Strategy
Tata Opportunities Fund USD 600 Growth &
Buy-out
Tata Capital Growth Fund USD 240 Growth
Tata Capital Special Situations
Fund
USD 50 Distressed
Tata Capital Healthcare Fund USD 80 Early/Growth
Tata Capital Innovations Fund USD 60 Venture
Padmanabhan (Paddy) Sinha – Managing Partner
Gautham Radhakrishnan – Partner
Bobby Pauly – Partner
61

PACIFIC EQUITY PARTNERS
ARCHER CAPITAL
NEW HORIZON CAPITAL
NAVIS CAPITAL PARTNERS
33
35
34
36
Total AUM: AUD4 billion (as of Sep 2015)
Global HQ: 126 Phillip Street Level 31, Sydney, Australia
Tel: +61 2 8238 2600
Web: www.pep.com.au
Year Founded: 1998
Total AUM: AUD2 billion
Global HQ: Suite 7 Pier 2/3, 13 Hickson Road, Dawes Point,
Australia
Tel: +61 2 8243 3333
Web: www.archercapital.com.au
Year Founded: 1997
Total AUM: USD4.3 billion (as of Apr 2016)
Global HQ: Suites 1702-03, One Exchange Square,
8 Connaught Place, Central, Hong Kong
Tel: +852 2801 6988
Web: www.nhfund.com
Year Founded: 2005
Healthcare, Industrials
Total AUM: USD5 billion (as of April 2016)
Global HQ: Level 17, Axiata Tower, 9, Jalan Stesen Sentral V,
Kuala Lumpur Sentral, Kuala Lumpur, Malaysia
Tel: +603 2302 3888
Web: www.naviscapital.com
Year Founded: 1998
Fund Strategy: Control in Growth and/or Buyout Opportunities
Sector Focus: Consumer Goods, Education, Healthcare,
Manufacturing, Retail
Pacific Equity Partners V AUD2,100 Buyout
Archer Capital Fund 5 AUD1,200 Buyout
Archer Capital Growth Fund 2 AUD300 Growth
New Horizon RMB Fund II CNY3,430 Buyout
New Horizon Capital IV USD1,050 Buyout
Navis Asia Fund VII USD1,500 Buyout
Malaysian Growth Opportunity Fund I MYR230 Buyout

ORCHID ASIA
TRUSTBRIDGE PARTNERS
YANCHANG PETROLEUM GROUP
MATRIX PARTNERS
37
39
38
40
Global HQ: Suite 6211-12, 62/F, The Center, 99 Queen's Road
Central, Hong Kong
Tel: +852 2115 8810
Web: www.orchidasia.com/en/
Year Founded: 1992
Global HQ: One Lujiazui, Suite 1206, 68 Yincheng Middle Road,
Shanghai, China
Tel:
Web: www.trustbridgepartners.com
Year Founded: 2006
Sector Focus: TMT
Total AUM: CNY14.2 billion
Global HQ: No.75 Keji 2Rd, Xi'an, Shaanxi, China
Tel: +86 911 2493 001
Web: english.sxycpc.com
Year Founded: 1905
Sector Focus: Energy / Oil & Gas, Manufacturing, Aerospace
Global HQ: 101 Main Street, 17th Floor, Cambridge, United States
Tel: +1 617 494 1223
Web: www.matrixpartners.com
Year Founded: 1977
Sector Focus: Healthcare, TMT
Orchid Asia VI USD920 Growth
Orchid Asia V USD650 Growth
Trustbridge Partners IV USD700 Growth
Trustbridge Partners V USD864 Growth
Guantian Industrial Fund I CNY10,100 Venture Capital
Matrix Partners China IV USD500 Venture Capital
Matrix Partners China III USD350 Venture Capital
Matrix Partners China II USD350 Venture Capital

SAIF PARTNERS
GP CAPITAL
MORNINGSIDE VENTURES
FARALLON CAPITAL MANAGEMENT
41
43
42
44
Global HQ: Suites 2516-2520, Two Pacific Place,
88 Queensway, Hong Kong
Tel: +852 2918 2200
Web: www.sbaif.com
Year Founded: 2001
Sector Focus: Financial Services, Consumer Goods,
Healthcare, TMT
Total AUM: CNY20 billion (as of Mar 2015)
Global HQ: Room 4901, 49/F One Lujiazui, No. 68 Yin Cheng
(Central) Road, Shanghai, China
Tel: +86 21 2032 9333
Web: www.gpcapital.com.cn
Year Founded: 2009
Sector Focus: Financial Services, Consumer Goods, Energy
/ Oil & Gas, Advanced Manufacturing, Natural Resources,
Modern Agriculture
Global HQ: 320 Wu Yuan Road, Shanghai, China
Tel: +86 21 6119 7500
Web: www.morningside.com
Year Founded: 1986
Sector Focus: Biotech / Life Science, Clean Tech / Renewable,
Healthcare, TMT
Global HQ: One Maritime Plaza, Suite 2100,
San Francisco, United States
Tel: +1 415 421 2132
Web: www.faralloncapital.com
Year Founded: 1986
SAIF Partners India V USD350 Venture Capital
SAIF China Growth RMB Fund II CNY5,000 Growth
SAIF India I USD350 Venture Capital
Shanghai Financial Sector Investment Fund I CNY9,000 Buyout
Morningside China TMT Special Opportunity Fund II 176.7 Venture Capital
Morningside China TMT Fund IV 660 Venture Capital
Morningside China TMT Special Opportunity Fund 93 Venture Capital
Farallon Asia Special Situations Fund II USD320 Buyout
Farallon Asia Special Situations Master II USD334 Buyout
Farallon Asia Special Situations Fund III USD300 Buyout

DEVELOPMENT BANK OF JAPAN (DBJ)
ANCHOR EQUITY PARTNERS
FOSUN CAPITAL GROUP
FOUNTAINVEST PARTNERS
45
47
46
48
Total AUM: JPY16,310.7 billion
Global HQ: Otemachi Financial City South Tower, 9-6,
Otemachi 1-chome, Chiyoda-ku, Tokyo, Japan
Tel: +81 3 3244 1590
Web: www.dbj.jp
Year Founded: 1999
Fund Strategy: Venture capital
Total AUM: USD1.35 billion (as of Jul 2015)
Global HQ: Suite 902, 28 Hennessy Road, Hong Kong
Tel: +852 3998 4960
Web: www.anchorpe.com
Year Founded: 2012
Total AUM: EUR43 billion (as of Dec 2015)
Global HQ: 27/F Juss Building, 28 South Zhongshan Road, Huangpu
District, Shanghai, China
Tel: +86 21 6333 5032
Web: www.fosuncapital.com
Year Founded: 2011
Global HQ: Suite 705-8, ICBC Tower, 3 Garden Road,
Central, Hong Kong
Tel: +852 3972 3900
Web: www.fountainvest.com
Year Founded: 2007
Energy / Oil & Gas, Healthcare, Industrials, Leisure, Retail,
TMT, Natural Resources
Competitiveness Enhancement Fund JPY150,000 Venture capital
Anchor Equity Partners Fund II USD850 Growth
Anchor Equity Partners Fund I USD500 Growth
China Momentum Fund USD525 Growth
Fosun Weishi Fund CNY2,000 Growth
Fosun Grand Fund CNY1,500 Growth
FountainVest China Growth Capital Fund II USD1,350 Growth

SSG CAPITAL MANAGEMENT
BRIGHT STONE (BEIJING) INVESTMENT MANAGEMENT
EVERSTONE CAPITAL
GOLDSTONE INVESTMENT
49
51
50
52
Total AUM: USD2.0 billion (as of Jan 2016)
Global HQ: Suite 7903, The Center, 99 Queen’s Road,
Central, Hong Kong
Tel: +852 3909 8888
Web: www.ssgasia.com
Year Founded: 2009
Fund Strategy: Special Situation/Distressed/Private Credit
Global HQ: 0908—0916 Tai Peng Building,10 Haidian North Second
Street, Haidian District, Beijing, China
Tel: +86 10 6019 0799
Web: www.brightstone-fund.com
Year Founded: 2009
Total AUM: USD3.3 billion (as of Jan 2016)
Global HQ: 163 Penang Road, Winsland House II,
#08-01, Singapore
Tel: +65 6511 6888
Web: www.everstonecapital.com
Year Founded: 2006
Retail, Education, TMT
Total AUM:
Global HQ: 17/F,CITIC Securities Tower, No.48 Liangmaqiao Road,
Chaoyang District, Beijing, China
Tel: +86 10 6083 7800
Web: www.cs.ecitic.com/en/BusinessesGoldStone.htm
Year Founded: 2007
Sector Focus: Financial Services, Consumer Goods, Energy / Oil &
Gas, Healthcare, TMT
SSG Capital Partners III USD915 "Distressed / Turnaround
SSG Capital Partners II USD400 "Distressed / Turnaround
Wuling Mountain Area Tourism Industry Investment Fund I CNY6,000 Growth
Bright Stone Ke Yuan CNY300 Growth
Bright Stone Jing Yuan CNY500 Growth
Everstone Capital Partners III USD730 Buyout
Everstone Capital Partners II USD580 Buyout
CITIC Buyout Fund CNY3,000 Buyout
CITIC Goldstone Investment Fund I CNY5,000 Buyout

JP MORGAN ASSET MANAGEMENT
Q CAPITAL PARTNERS
CHINA MERCHANTS CAPITAL
CRESCENT CAPITAL PARTNERS
53
55
54
56
Total AUM: USD1,600 billion (as of Mar 2015)
Global HQ: 270 Park Avenue, 7th Floor, New York, United States
Tel: +1 212 648 2180
Web: www.jpmorgan.com
Year Founded: 1974
Sector Focus: TMT, Diversified
Total AUM: KRW955 billion
Global HQ: 11/F, KAIT Building, 306 Teheran-ro Gangnam-Gu,
Seoul, Korea
Tel: +82 2 538 2411
Web: qcapital.co.kr
Year Founded: 1982
Fund Strategy: Venture capital
Sector Focus: Consumer Goods, Industrials, TMT, Diversified
Global HQ: 20/F Tower B, East Pacific International Center,
7888 Shennan Avenue, Futian District, Shenzhen, China
Tel: +86 755 8832 6300
Web: www.cmcapital.com.cn/en
Year Founded: 2012
Total AUM: AUD1.6 billion
Global HQ: Level 29, Governor Phillip Tower, 1 Farrer Place, Sydney,
Australia
Tel: +61 2 9220 8100
Web: www.crescentcap.com.au
Year Founded: 2000
Fund Strategy: Growth Buyout
JPMorgan Digital Growth Fund II USD1,540 Growth
J.P. Morgan China Private Equity Fund USD665 Buyout
J.P. Morgan China Private Investors USD323 Buyout
QCP 2011 Corporate Partnership Private Equity Fund KRW400,000 Venture capital
QCP Project Private Equity Fund VI KRW60,000 Venture capital
QCP New Technology Investment Fund 22 KRW10,000 Venture capital
China Merchants Mizuho Growth Fund USD20 Growth
ZXJ & China Merchants Private Equity Fund CNY7,500 Growth
Crescent V (2015) AUD$675m Growth buyout
Crescent IV (2012) AUD$495m Growth buyout

HOPU INVESTMENT MANAGEMENT
CITIC CAPITAL
MULTIPLES ALTERNATE ASSET MANAGEMENT
(MULTIPLES PRIVATE EQUITY)
JAPAN INDUSTRIAL SOLUTIONS
57
59
58
60
Global HQ: Suite 203-205 North Tower, Winland Financial Center,
7 Financial Street, Beijing, China
Tel: +86 10 5181 9600
Web:
Year Founded: 2007
Sector Focus: Financial Services, Natural Resources
Global HQ: 28/F, CITIC Tower, 1 Tim Mei Avenue, Central,
Hong Kong
Tel: +852 3710 6888
Web: www.citiccapital.com
Year Founded: 2002
Fund Strategy: Venture Capital, Buyout
Global HQ: 7th floor, Poonam Chambers - B Wing,
Dr. Annie Besant Road, Worli, Mumbai, India
Tel: +91 22 6624 5500
Web: www.multiplesequity.com
Year Founded: 2009
Total AUM: JPY100 billion
Global HQ: Marunouchi Mitsui Building 3F, 2-2-2 Marunouchi,
Chiyoda-ku, Tokyo, Japan
Tel: +81 3 6268 0330
Web: www.jis.co.jp
Year Founded: 2010
Fund Strategy: Distressed / Turnaround
Hopu Master Fund II USD1,100 Buyout
CITIC New Generation Infotech Venture Fund (CITIC Venture Fund) CNY250 Venture Capital
CITIC Capital Venture Partners USD113 Venture Capital
CITIC Capital (Tianjin) Equity Investment Partnership CNY4,000 Buyout
Multiples Private Equity Fund II (with Co-Invest Fund ) USD690 Buyout
Multiples Private Equity Fund USD405 Buyout
Japan Industrial Solutions Fund I JPY100,000 Distressed / Turnaround

CHINA-ASEAN CAPITAL ADVISORY COMPANY
TATA CAPITAL
INVENTIS INVESTMENT HOLDINGS (CHINA)
63
61
64
Global HQ: 67/F Two International Finance Centre,
8 Finance Street, Central, Hong Kong
Tel: +852 3125 1800
Web: www.china-asean-fund.com
Year Founded: 2009
Sector Focus: Energy / Oil & Gas, TMT, Transport, Clean Tech /
Renewable, Natural Resources
Global HQ: Peninsula Business Park, Lower Parel, Mumbai, India
Tel: +91 22 6745 9000
Web: www.tatacapital.com
Year Founded: 2009
Fund Strategy: Growth, Buyout, Venture Capital, Distressed /
Turnaround
Total AUM: USD 5.3 billion
Global HQ: 1980 Yushan Lu No 14-504, Pudong, Shanghai, China
Tel: +86 21 6402 5013
Web:
Year Founded: 2001
China-ASEAN Investment Cooperation Fund I USD1,000 Growth
Tata Opportunities Fund USD600 Growth
Tata Capital Healthcare Fund USD80 Growth
Tata Capital Innovations Fund USD50 Venture Capital
Inventis China Growth Fund VI USD1,000 Growth
CHINA EVERBRIGHT INVESTMENT MANAGEMENT
62
Total AUM: HKD50.3 billion
Global HQ: 46/F, Far East Finance Centre, 16 Harcourt Road,
Hong Kong
Tel: +852 2528 9882
Web: www.everbright165.com
Year Founded: 2001
Sector Focus: Healthcare, TMT, Diversified
China Everbright ReinFore Special Opportunities Fund USD355 Growth
Everbright Medical Healthcare Fund II CNY1000 Buyout
Everbright Medical Healthcare Fund I CNY600 Buyout

L CAPITAL MANAGEMENT
UNISON CAPITAL
ASCENDENT CAPITAL PARTNERS (ASIA) LIMITED
BLUE ECONOMY ZONE INDUSTRIAL FUND MANAGEMENT
65
67
66
68
Total AUM: EUR1 billion (as of Dec 2015)
Global HQ: 18 rue Francois 1er, Paris, France
Tel: +33 1 4413 2330
Web: www.lcapital.eu
Year Founded: 2001
Fund Strategy: Buyout, Venture Capital, Growth
Sector Focus: Consumer Goods, Leisure, Retail
Total AUM: JPY240 billion (as of Dec 2015)
Global HQ: The New Otani Garden Court 9F, 4-1 Kioicho,
Chiyoda-ku, Tokyo, Japan
Tel: +81 3 3511 3901
Web: www.unisoncap.com
Year Founded: 1998
Total AUM: USD965 million (as of Aug 2015)
Global HQ: Suite 1609, 16/F, Jardine House, 1 Connaught Place,
Central, Hong Kong
Tel: +852 2165 9000
Web: www.ascendentcp.com
Year Founded: 2011
Total AUM:
Global HQ: 17F, Tower 2, Aosheng Building, Lixia District,
Jinan, Shangdong, China
Tel: +86 531 6862 1580 - 8049
Web: www.bluefund.cn
Year Founded: 2012
L Capital Asia 2 USD980 Venture Capital
Unison Capital Private Equity Fund (Korea) KRW307,500 Buyout
Unison Capital Partners IV JPY75,000 Buyout
Ascendent Capital Partners II USD600 Growth
Ascendent Capital Partners I USD365 Growth
Blue Economy Zone Industrial Fund I CNY4,950 Growth
Shandong Blue Ocean Kingking Industrial Investment Fund CNY500 Growth

CHRYSCAPITAL
STIC INVESTMENTS
CHINA INTERNATIONAL CAPITAL CORPORATION
NEXUS VENTURE PARTNERS
69
71
70
72
Global HQ: Suite 111, 11F, Maker Chambers VI, Nariman Point,
Mumbai, India
Tel: +91 22 4066 8000
Web: www.chryscapital.com
Year Founded: 1999
Industrials, Business Services
Global HQ: 10F. MSA Bldg., 12, Teheran-ro 78-gil,
Gangnam-gu, Seoul, South Korea
Tel: +82 2 3404 7800
Web: www.stic.co.kr
Year Founded: 1999
Fund Strategy: Buyout, Venture Capital, Growth, Secondaries
Total AUM: CNY12.3 billion (as of June 2015)
Global HQ: 28th Floor, China World Office 2,
No. 1 Jian Guo Men Wai Avenue, Beijing, China
Tel: +86 10 6505 1166
Web: www.cicc.com.cn
Year Founded: 1995
Sector Focus: Consumer Goods, Clean Tech / Renewable, Energy /
Oil & Gas, Healthcare
Global HQ: G-2, Sarjan Plaza, 100, Dr. Annie Besant Road,
Worli, Mumbai, India
Tel: +91 22 6626 0000
Web: www.nexusvp.com
Year Founded: 2006
Sector Focus: Consumer Goods, Business Services, TMT
ChrysCapital VI USD510 Growth
ChrysCapital VII USD350 Growth
STIC CJ Global Investment Corporate Private Equity Fund KRW500,000 Buyout
STIC Pan-Asia Technology Fund KRW138,500 Venture Capital
CICC Jiatai Industry Integration Fund CNY5,000 Growth
CICC Jiatian Private Equity Fund CNY400 Growth
Nexus Top-up Opportunity Fund USD130 Venture Capital
Nexus India Capital IV USD450 Venture Capital
Nexus India Capital III USD270 Venture Capital

SOFTBANK CHINA VENTURE CAPITAL
HAITONG SECURITIES
ICICI VENTURE
BANYAN CAPITAL
73
75
74
76
Global HQ: 15A-C, HuaMin Empire Plaza, 728 YanAn Road (West),
Shanghai, China
Tel: +86 21 5253 4888
Web: www.sbcvc.com
Year Founded: 2000
Sector Focus: Consumer Goods, Healthcare, TMT, Renewable,
Energy / Oil & Gas
Total AUM: -
Global HQ: 12/F, Haitong Securities Tower, 689 Guangdong Road,
Shanghai, China
Tel: +86 21 2321 9000
Web: www.htsec.com
Year Founded: 1988
Fund Strategy: Buyout, Growth, Venture Capital
Global HQ: ICICI Venture House, Ground Floor,
Appasaheb Marathe Marg, Prabhadevi, Mumbai, India
Tel: +91 22 6655 5050
Web: www.iciciventure.com
Year Founded: 1988
Fund Strategy: Buyout, Growth, Mezzanine / Debt, Distressed /
Turnaround
Total AUM: USD854 million (as of Dec 2015)
Global HQ: Room 1900, Tower A, Ping An International Financial
Center, 1 Xin Yuan South Road, Beijing, China
Tel: +86 10 8444 2729
Web: www.banyanvc.com
Year Founded: 2013
Sector Focus: TMT
SBCVC Fund V USD458 Venture Capital
SBCVC Fund IV USD387 Venture Capital
Haitong RMB Buyout Fund I CNY1,150 Buyout
Liaoning New Energy and Low Carbon Investment Fund - Joint Venture CNY1,000 Growth
Shanghai Cultural Industry Fund CNY3,000 Venture Capital
AION Capital Partners Fund I - Joint Venture USD825 Distressed / Turnaround
Banyan Partners RMB Fund II CNY560 Growth
Banyan Partners Fund II USD362 Growth
Banyan Partners RMB Fund I CNY320 Growth

HARVEST FUND MANAGEMENT
AGRICULTURAL BANK OF CHINA
VISION KNIGHT CAPITAL
TAIKANG ASSET MANAGEMENT
77
79
78
80
Global HQ: 16/F China Resources Building,
No.8 Jianguomen Beidajie, Beijing, China
Tel: +86 10 6521 5588
Web: www.jsfund.cn
Year Founded: 1999
Sector Focus: TMT
Total AUM: -
Global HQ: No.69, Jianguomen Nei Avenue, Dongcheng District,
Beijing, China
Tel: +86 10 8510 9619
Web: www.abchina.com/en/
Year Founded: 1951
Sector Focus: Industrials, Business Services, TMT
Total AUM: USD800 million
Global HQ: Unit 1, 33rd Floor, Kerry Parkside Office,
1155 Fangdian Rd. Pudong District, Shanghai, China
Tel: +86 21 2028 1659
Web: www.vkcpartners.com
Year Founded: 2011
Sector Focus: Consumer Goods, TMT
Global HQ: Excel Center 3rd Floor, 6 Wudinghou Street,
Xicheng District, Beijing, China
Tel: +86 10 5769 1888
Web: www.taikang.com/tkzc/
Year Founded: 2006
Sector Focus: Financial Services, Biotech / Life Science,
Energy / Oil & Gas, Healthcare, TMT, Transport, Agribusiness
Harvest Seven Stars Media USD800 Venture Capital
ABC (Hunan) No.1 Equity Investment CNY10 Buyout
ABCI Wuxi Equity Investment Fund CNY5,000 Growth
Vision Knight Capital (China) Entrepreneur Fund II USD50 Venture Capital
Vision Knight Capital (China) Fund II USD500 Venture Capital
Vision Knight Capital (China) Fund I USD250 Venture Capital
Tasly Holding Healthcare Fund CNY500 Buyout

THE BLACKSTONE GROUP
GUANGDONG ZHONGGUANG INVESTMENT MANAGEMENT
AEROSPACE INDUSTRY INVESTMENT FUND MANAGEMENT
BOC YUECAI PRIVATE EQUITY
81
83
82
84
Total AUM: USD344 billion (as of March 2016)
Global HQ: 345 Park Avenue, New York, United States
Tel: +1 64 6313 6590
Web: www.blackstone.com
Year Founded: 1985
Fund Strategy: Buyout, Venture Capital, Growth,
Mezzanine / Debt, Distressed / Debt
Total AUM: -
Global HQ: 21F, Guangzhou West Tower, Tianhe District,
Guangzhou, China
Tel: +86 20 8883 6036
Web: www.zgfunds.com
Year Founded: 2012
Fund Strategy: Venture
Sector Focus: TMT
Global HQ: 5F, Aerospace Financial Building,
31 Ping'anli West Street, Xicheng District, Beijing, China
Tel: -
Web: -
Year Founded: 2009
Sector Focus: Financial Services, Consumer Goods,
Energy / Oil & Gas, TMT
Global HQ: No.481, Dongfeng Road, Guangdong Finance Building,
15th Floor, Guangdong, China
Tel: +86 20 8306 3888
Web: www.gdyctz.com
Year Founded: 1984
Shanghai Blackstone Equity Investment Partnership (Zhonghua Development Investment Fund) CNY5,000 Buyout
Guangdong Radio and Television Fund CNY5,000 Venture Capital
Aerospace Industry Investment Fund I CNY5,030 Growth
Guangdong SME Direct Equity Investment Fund CNY5,000 Growth

YELLOW RIVER DELTA INDUSTRY FUND MANAGEMENT
GOLDMAN SACHS MERCHANT BANKING DIVISION
KB INVESTMENT
QUADRANT PRIVATE EQUITY
85
87
86
88
Total AUM: -
Global HQ: 6F, 9 BLK, Zhenzhuquan, Quancheng Rd., Jinan, China
Tel: +86 531 8510 7763
Web: www.yrdfund.cn
Year Founded: 2011
Sector Focus: Clean Tech / Renewable, Energy / Oil & Gas, TMT
Global HQ: 200 West Street, 29F New York, USA
Tel: +1 212 902 0300
Web: www.gs.com
Year Founded: 1986
Mezzanine / Debt, Distressd / Turnaround
Global HQ: 9F, 731 Yeongdong-daero Blvd, Gangnam-gu,
Seoul, South Korea
Tel: +82 2 545 5092
Web: www.kbic.co.kr
Year Founded: 1990
Total AUM: AUD2.5 billion
Global HQ: Level 30, Deutsche Bank Place, 126 Phillip Street,
Sydney, Australia
Tel: +1 612 9221 3044
Web: www.quadrantpe.com.au
Year Founded: 1996
Yellow River Delta Industry Fund I CNY5,000 Venture Capital
Broad Street (Beijing) 2011 Investment Center USD3,500 Buyout
Quadrant Private Equity No. 4 AUD850 Growth
KB12-1 Venture KRW30,000 Venture Capital
KT Global Investment Partnership PEF KRW475,000 Venture Capital
KoFC Value-Up Private Equity Fund KRW65,000 Buyout

WOORI ASSET MANAGEMENT
SHINHAN PRIVATE EQUITY
CHINA SCIENCE & MERCHANTS INVESTMENT (FUND) MANAGEMENT
(CSMI)
CREADOR
89
91
90
92
Total AUM: KRW20,434 billion
Global HQ: 9th Floor, Finance Tower, Yeoido-dong,
Yongdeungpo-ku, Seoul, South Korea
Tel: +82 2 789 0300
Web: www.wooriam.com
Year Founded: 1988
Sector Focus: Energy / Oil & Gas, Natural Resources
Total AUM: -
Global HQ: 100-102 Daekyung Bldg., 120 Bungi Taepyeong-ro 2 ga,
Jung-gu, Seoul, South Korea
Tel: +82 2 756 0505
Web: www.shinhan.com/en/about/network/sh_private.jsp
Year Founded: 2004
Global HQ: Room 5001, China World Tower III,
No. 1 Jianguomenwai Ave, Beijing, China
Tel: +86 10 5765 2211
Web: www.csm-inv.com
Year Founded: 2000
Total AUM: USD460 million
Global HQ: 8F, Menara BRDB 285, Jalan Ma'arof Bukit Bandar Raya,
Kuala Lumpur, Malaysia
Tel: +60 3 2182 6888
Web: www.creador.com
Year Founded: 2011
Woori AM & Sprott Consulting Energy and Resources Fund - Co-Investment USD375 Growth
Woori AM & Sprott Consulting Energy and Resources Fund - Separate Account USD375 Growth
Shinhan-Stonebridge Petro Private Equity Fund KRW818,000 Buyout
CSMI RuiAn Fund CNY100 Growth
Dongguan CSM Zhongguang Private Equity Fund CNY1,550 Growth
Nanchang CSMI Venture Capital Fund CNY1,000 Venture Capital
Creador III USD250 Growth
Creador II USD330 Growth
Creador I USD132 Growth

INDIA VALUE FUND ADVISORS
IMM PRIVATE EQUITY
SUMMITVIEW CAPITAL
CHINA CULTURE INDUSTRIAL INVESTMENT FUND MANAGEMENT
93
95
94
96
Global HQ: Suite F9C, Grand Hyatt Plaza, Santacruz East,
Mumbai, India
Tel: +91 22 6682 4888
Web: www.ivfa.com
Year Founded: 1999
Global HQ: 5F Gangnam Finance Center, 737 Yeoksam-dong,
Gangnam-Ku, Seoul, South Korea
Tel: +82 2 2112 1780
Web: www.immpe.co.kr
Year Founded: 2006
Global HQ: Room 1101, No. 18 Poly Plaza Block E, Dongfang Road,
Shanghai, China
Tel: +86 21 6881 6012
Web: www.summitviewcapital.com
Year Founded: 2011
Healthcare, TMT
Global HQ: 12/F, No. 28, Fengsheng Hutong, Xicheng District,
Beijing, China
Tel: +86 10 5750 3518
Web: www.chinacf.com
Year Founded: 2011
Sector Focus: Leisure, TMT
India Value Fund V USD700 Buyout
IMM RoseGold PEF II KRW720,000 Growth
Shangahai Summitview Integrated Circuit Information Industry Venture Capital Fund I CNY3,000 Venture Capital
Summitview Capital Investment Enterprise CNY1,200 Venture Capital
China Culture Industrial Investment Fund I CNY4,100 Growth

CINDA CAPITAL
OLYMPUS CAPITAL HOLDINGS ASIA
SHENYANG DARUI INVESTMENT MANAGEMENT COMPANY
SARATOGA CAPITAL GROUP
97
99
98
Total AUM: -
Global HQ: 29 Dongzhong Street , Dong Cheng District, Beijing,
China
Tel: +86 10 6418 1266
Web: www.cinda.com.cn
Year Founded: 1994
Fund Strategy: Buyout, Growth, Mezzanine / Debt, Distressed /
Turnaround
Total AUM: -
Global HQ: Suite 3406, One Exchange Square, Hong Kong
Tel: +852 2140 0500
Web: www.olympuscap.com
Year Founded: 1997
Mezzanine / Debt, Distressed / Turnaround
Global HQ: Nanjing North Street, Heping District
Liaoning Province, Shenyang, China
Tel: -
Web: -
Year Founded: 2006
Global HQ: 3 Phillip Street, #15-01 Commerce Point, Singapore
Tel: +65 6536 8661
Web: www.saratoga-asia.com
Year Founded: 1998
Sector Focus: Consumer Goods, Energy / Oil & Gas, TMT,
Transport, Natural Resources
China Agricultural Industrial Development Fund CNY4,000 Growth
Olympus Capital Asia V USD330 Growth
Asia Environmental Partners II USD277 Growth
Liaoning Equipment Manufacturing Industry Fund I CNY4,000 Growth
Saratoga Asia III USD600 Buyout
100

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ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS IN MARKET
(AS OF 13 JUNE 2016)
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
500 Kimchi 500 Startups $15 2015 Venture Capital / Growth Equity
500 Startups Japan 500 Startups $30 2015 Venture Capital / Growth Equity
500 TukTuks 500 Startups $10 2015 Venture Capital / Growth Equity
500 Kulfi 500 Startups $25 2016 Venture Capital / Growth Equity
500 Startups Vietnam 500 Startups $10 2016 Venture Capital / Growth Equity
5ideas Startup Superfuel Fund 5ideas $10 2012 Venture Capital / Growth Equity
Aavishkaar Frontier Fund Aavishkaar $75 2013 Venture Capital / Growth Equity
Aavishkaar India-focused fund Aavishkaar $300 2015 Venture Capital / Growth Equity
Asian Growth II ACA Inc. $100 2013 Buyout / Corporate Private Equity
Adamas Asset Management Fund II (Greater China
Credit Fund)
Adamas Asset Management $200 2012 Mezzanine / Debt
Adamas Ping An Co-Managed Debt fund Adamas Asset Management $500 2015 Mezzanine / Debt
The ADM Capital Somei Lending Platform ADM Capital $200 2016 Mezzanine / Debt
Advantage Partners Asia Fund Advantage Partners $400 2015 Buyout / Corporate Private Equity
Digital Accelerator LP Adventure Capital $61 2012 Venture Capital / Growth Equity
Aequus Asia Healthcare Fund Aequus Capital Partners $200 2014 Venture Capital / Growth Equity
ABC (Hunan) No.1 Equity Investment Agricultural Bank of China $491 2014 Buyout / Corporate Private Equity
AID Partners Capital II AID Partners $500 2013 Venture Capital / Growth Equity
AirTreeVentures Fund II AirTreeVentures $77 2016 Venture Capital / Growth Equity
Alibaba Group/ SAIC Motor Internet-enabled Car Fund Alibaba Group $164 2015 Venture Capital / Growth Equity
Amicus Capital Amicus Capital $200 2014 Buyout / Corporate Private Equity
Japan Fund IV Ant Capital Partners $162 2014 Secondaries
AppWorks Fund II AppWorks $51 2015 Venture Capital / Growth Equity
AquaVentures Fund AquaVentures - 2015 Venture Capital / Growth Equity
ArborVenture Fund I ArborVentures $125 2014 Venture Capital / Growth Equity
SlingshotVenture Fund Artesian Capital Management $8 2013 Venture Capital / Growth Equity
iAccelerate start-up incubator fund Artesian Capital Management $8 2014 Venture Capital / Growth Equity
SBS Asia I Investors Asia Alternatives Management LLC $250 2014 Fund of Funds / Co-Investment
Asia Alternatives Ivory Partners III Asia Alternatives Management LLC - 2015 Fund of Funds / Co-Investment
Asia Growth Capital Secondaries Fund I Asia Growth Capital Advisors $500 2016 Secondaries
AsiaBridge Fund II AsiaBridge Capital $250 2013 Venture Capital / Growth Equity
Asian Healthcare Fund II Asian Healthcare Fund $150 2015 Venture Capital / Growth Equity
AstarcVentures Seed Fund Astarc Group $2 2014 Venture Capital / Growth Equity
AuraVenture Fund Aura Group $23 2016 Venture Capital / Growth Equity
Medical Research Future Fund Australia Future Fund $15,300 2015 Venture Capital / Growth Equity
Avendus Special Situations Fund III Avendus Capital $79 2013
Venture Capital /
Growth Equity
Avenue Asia Special Situations Fund V Avenue Capital - 2016 Mezzanine / Debt
Axiom Asia IV Axiom Asia Private Capital - 2015
Fund of Funds /
Co-Investment
Bertelsmann Asia Investment Betafund Bertelsmann - 2014 Venture Capital / Growth Equity
Blackfox Private Partners Fund Blackfox - 2015 Venture Capital / Growth Equity
Shandong Blue Ocean Kingking Industrial Investment
Fund
Blue Economy Zone Industrial Fund
Management
$164 2016 Venture Capital / Growth Equity
Australia VC Fund II (VC 2014) Blue Sky Alternative Investments $23 2014 Venture Capital / Growth Equity
Australia VC Fund III Blue Sky Alternative Investments $153 2015 Venture Capital / Growth Equity
Blue Sky Strategic Australian Agriculture Fund Blue Sky Alternative Investments $230 2015 Venture Capital / Growth Equity
BlueChilliVenture Fund BlueChilli $10 2013 Venture Capital / Growth Equity
BRV Lotus Growth Fund 2015 BlueRunVentures - 2015 Venture Capital / Growth Equity
BlumeVentures Fund II BlumeVentures $60 2014 Venture Capital / Growth Equity
Huamei Fund
Bohai Industrial Investment Fund
Management
$1,500 2014 Buyout / Corporate Private Equity
Bona Noah Film & Television Fund Bona Film Group $164 2013 Venture Capital / Growth Equity
Boxin China Growth Fund I Boxin Capital $200 2011 Venture Capital / Growth Equity
Wuling Mountain Area Tourism Industry Investment
Fund I
Bright Stone (Beijing) Investment
Management
Navegar Fund Brummer & Partners $100 2013 Venture Capital / Growth Equity
Frontier Bangladesh II Brummer & Partners $100 2014 Venture Capital / Growth Equity
BT Capital Group Media Fund BT Capital Group $500 2013 Venture Capital / Growth Equity
Bull Capital China Growth Fund II Bull Capital Partners $400 2014 Venture Capital / Growth Equity
BioVeda China Fund IV BVCF $400 2016 Venture Capital / Growth Equity
CanbankVenture Capital Fund VI CanbankVenture Capital Fund Ltd. $79 2014 Venture Capital / Growth Equity
CapAleph Indian Millennium SME Fund CapAleph Advisors $20 2015 Venture Capital / Growth Equity
Capital Dynamics Japan Fund Capital Dynamics $122 2013 Fund of Funds / Co-Investment

Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
Capital Today Evergreen Fund Capital Today $400 2014 Buyout / Corporate Private Equity
Capvent Asia Private Equity III (CAPE III) Capvent $300 2012 Fund of Funds / Co-Investment
Carpediem Capital Partners Fund I Carpediem Capital $87 2014 Buyout / Corporate Private Equity
CASREV Fund II CAS Investment Management Co $150 2015 Venture Capital / Growth Equity
Caspian Impact Investments (CII) Caspian Impact Investment Adviser $40 2013 Mezzanine / Debt
CDH China Mid-market Fund CDH Investments $600 2015 Buyout / Corporate Private Equity
CDH Growth Fund III CDH Investments - 2015 Buyout / Corporate Private Equity
CDIB Capital Technology Partners CDIB Capital International Corporation $170 2016 Venture Capital / Growth Equity
Champ IV Fund CHAMP Private Equity $1,150 2015 Buyout / Corporate Private Equity
Yangtze River Economic Zone Industrial
Buyout Fund
Changjiang Securities $819 2014 Buyout / Corporate Private Equity
Cheraman Premium Fund Cheraman Group $39 2013 Venture Capital / Growth Equity
CherubicVentures RMB Fund I CherubicVentures $49 2015 Venture Capital / Growth Equity
China Broadband Capital Partners III
China Broadband Capital Partners (CBC
Capital)
Everbright Medical Healthcare Fund II China Everbright Investment Management $196 2013 Buyout / Corporate Private Equity
China Everbright Multi Strategy Fund of Funds China Everbright Investment Management $1,640 2015 Fund of Funds / Co-Investment
CICC Qianhai Development Fund China International Capital Corporation $3,270 2014 Venture Capital / Growth Equity
China Life Sciences Access Fund China Life Sciences Access Fund $80 2013 Venture Capital / Growth Equity
China Film Fund China Media Capital $300 2015 Buyout / Corporate Private Equity
China Media Creative Industrial Investment Fund II China Media Capital $164 2015 Buyout / Corporate Private Equity
China Merchants Mizuho Growth Fund China Merchants Capital $200 2011 Venture Capital / Growth Equity
Shenzhen Qianhai Orient Aier Medical Industry M&A
Fund
China Orient Asset Management Corporation
(COAMC)
$33 2014 Buyout / Corporate Private Equity
China Harvest Fund III China Renaissance Capital Investment $750 2012 Venture Capital / Growth Equity
CSMI RuiAn Fund
China Science & Merchants Investment (Fund)
Management (CSMI)
Dongguan CSM Zhongguang Private Equity Fund
China Science & Merchants Investment (Fund)
Management (CSMI)
Yangquan Coal Kinglink Investment Fund (YCKIF) China Soft Capital $491 2014 Buyout / Corporate Private Equity
CDIB BiotechVenture Capital Fund ChinaVenture Management $51 2014 Venture Capital / Growth Equity
ChrysCapital VII ChrysCapital $600 2015 Venture Capital / Growth Equity
Chushang CapitalVenture Capital Fund Chushang Capital $82 2014 Venture Capital / Growth Equity
ASEAN Industrial Growth Fund (AIGF) CIMB Private Equity &Venture Capital $200 2013 Venture Capital / Growth Equity
CITIC Capital China Partners III CITIC Capital $1,500 2016 Buyout / Corporate Private Equity
CITIC Capital Japan Partners III CITIC Capital - 2016 Buyout / Corporate Private Equity
ClearVue Partners II ClearVue Partners $425 2015 Venture Capital / Growth Equity
Clearwater Capital Partners Fund V Clearwater Capital Partners $650 2016 Mezzanine / Debt
Yi Ming China Fund CMIA Capital Partners $150 2014 Venture Capital / Growth Equity
COPE Opportunities IV CMS Opus Private Equity $94 2015 Venture Capital / Growth Equity
Cobalt Equity Partners Fund I Cobalt Equity Partners $500 2015 Venture Capital / Growth Equity
Conchubar Clean Energy Fund Conchubar Capital Management $150 2013 Venture Capital / Growth Equity
Contrarian Opportunities Fund I Contrarian Capital India Partners $50 2013 Venture Capital / Growth Equity
Contrarian Vriddhi Fund - 1 Contrarian Drishti Partners $9 2014 Venture Capital / Growth Equity
South Sea Growth Fund VI Cowin Capital $246 2014 Venture Capital / Growth Equity
Creador III Creador $450 2015 Venture Capital / Growth Equity
Chongqing Run Ke Equity Investment Fund Credit China $164 2013 Mezzanine / Debt
CX Partners Fund II CX Partners $400 2013 Venture Capital / Growth Equity
CA Asia Internet Fund II CyberAgentVentures $50 2015 Venture Capital / Growth Equity
Cybernaut Skolkovo Fund Cybernaut Capital $200 2015 Venture Capital / Growth Equity
DCMVentures China Turbo Affiliates Fund DCM-Doll Capital Management $10 2014 Venture Capital / Growth Equity
DCMVentures China Turbo Fund DCM-Doll Capital Management $170 2014 Venture Capital / Growth Equity
DCMVentures China Fund (DCM VIII) DCM-Doll Capital Management $400 2015 Venture Capital / Growth Equity
Decheng Capital China Life Sciences USD Fund II Decheng Capital $250 2015 Venture Capital / Growth Equity
China Sports - Dingxin Industrial Fund Dingxin Capital $49 2013 Venture Capital / Growth Equity
Mekong Brahmaputra Clean Development Fund II Dragon Capital (Vietnam) $100 2016 Venture Capital / Growth Equity
Athena Annex Draper Fisher Jurvetson $8 2013 Venture Capital / Growth Equity
Japanese Limited Partnership DRC III DRC Capital Ltd. $122 2014 Buyout / Corporate Private Equity
DSG Consumer Partners II DSG Consumer Partners $50 2015 Venture Capital / Growth Equity
Eagle Asia Fund III Eagle Asia Partners - 2015 Fund of Funds / Co-Investment
EW Special Opportunities Fund II (ESOF II) Edelweiss Capital $400 2015 Mezzanine / Debt
Edmond de Rothschild Investment Partners China II Edmond de Rothschild Investment Partners $204 2014 Venture Capital / Growth Equity
SeedSurge eHealth TBI $16 2013 Venture Capital / Growth Equity
EGAT Public Infrastructure Fund
Electricity Generating Authority of Thailand
(EGAT)
Cambodia-Laos Development Fund II (CLDF II) Emerging Market Investments (EMI) $70 2015 Venture Capital / Growth Equity
Cambodia-Laos-Myanmar Development Fund II
Emerging Markets Investment Advisers
(duplicate)
$70 2015 Buyout / Corporate Private Equity

APAC fund managers guide 2016

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