Hony Capital

Hony Capital was founded in 2003 as a subsidiary of Legend Holdings, which provided its initial start-up capital. As a pioneer in the Chinese private equity sector, the firm has grown to manage approximately US$13 billion in assets and has invested in over 100 companies both within China and internationally. In 2012, it achieved the milestone of becoming the first private equity company registered in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

The firm focuses on creating value by assisting Chinese companies in their growth and helping international consumer brands expand their presence into the Chinese market. To facilitate systematic investment in specific industries, Hony Capital established specialized platforms such as Hospital Corporation of China and Best Food Holding Company Limited. Its investor base is global, including major North American pension funds, the Bill & Melinda Gates Foundation, and Goldman Sachs.

Hony Capital is particularly active in cross-border transactions and state-owned enterprise restructuring. Notable historical activities include the acquisition of the British chain PizzaExpress for US$1.54 billion and a significant partnership with TPG Capital to launch the Hollywood studio STX Entertainment. The firm also maintains a significant presence in the energy and pharmaceutical sectors through large-scale equity investments and divestments in companies like CSPC Pharmaceutical and Santos Limited.