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Elite Formations and Cases of Success and Failure

In: Localizing Global Finance: The Rise of Western-Style Private Equity in China

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  • Justin Robertson

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.

Suggested Citation

  • Justin Robertson, 2015. "Elite Formations and Cases of Success and Failure," Palgrave Macmillan Books, in: Localizing Global Finance: The Rise of Western-Style Private Equity in China, chapter 6, pages 54-70, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-51402-8_6
    DOI: 10.1057/9781137514028_6
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