CDH Investments

CDH Investments was established in 2002 as an alternative asset management company focused on providing investment and value-added services to enterprises in China and the Asian region. It was founded by six founders including Wu Shangzhi and Jiao Zhen, in cooperation with institutional investors like the Government of Singapore Investment Corporation. CDH Investments originated from the direct investment department of China International Capital Corporation.

CDH Investments is a comprehensive multi-asset management platform with equity investments, mezzanine investments, securities investments, and real estate investments, with an asset management scale currently exceeding 170 billion yuan. It boasts over 200 domestic and international professional institutional investors, including sovereign wealth funds, pension funds, national and local guidance funds, financial institutions, endowment funds, family offices, and market-oriented fund of funds.

The range of business undertaken by CDH Investments may adjust depending on market conditions and investment strategies. Below are the main business areas covered by CDH Investments.

1. Private Equity Investment: CDH Private Equity (PE) was established in 2002 as the main fund under CDH, focusing on mergers and acquisitions as well as large enterprise investments.
2. Innovation and Growth Investment: Established in 2015, CDH VGC (Venture & Growth Capital) mainly focuses on healthcare, hard technology, new consumer markets (To C), and enterprise services (To B).
3. Mezzanine and Credit Investment: This division was established in 2011 and was the first mezzanine fund in the domestic market with successful fund exits to introduce insurance capital as a limited partner and achieve complete institutionalization of LPs.
4. Real Estate Investment: Established in 2009, CDH Real Estate Investment is one of the earliest real estate equity investment funds in China. Since its inception, it has managed four Chinese property funds, four Japanese property funds, three single-asset Japanese property funds, two stable-income U.S. property funds, four single-asset U.S. property funds, and manages several other single-project and auxiliary feeder funds.
5. Runhui Investments: Founded in 2006, it is an asset management company focused on the Chinese market with a management scale of nearly 50 billion yuan. The products include total return strategies and relative return strategies, regulated by the China Securities Regulatory Commission, Hong Kong Securities Regulatory Commission, U.S. Securities and Exchange Commission, and Ontario Securities Commission, Canada.
6. CDH Baifu: Founded in 2012, it is a professional fund investment platform under CDH, focusing on technology investments with asset management scale exceeding 70 billion yuan.

Since its establishment, CDH Investments has invested in and contributed to the growth of over 350 leading enterprises across industries, successfully supporting 100 of them in going public domestically and internationally. Here are some of CDH Investments' representative cases.

1. Cross-border merger of Joyoung Co. and SharkNinja: CDH Investments invested in Joyoung Co. in 2007 and exited after its listing in 2014. In 2017, CDH Investments, together with Joyoung's parent company Shanghai Lihong, acquired a 70% stake in the American high-end floor cleaning and kitchen small appliance brand SharkNinja, obtaining the Shark and Ninja brands. In 2019, CDH Investments and Shanghai Lihong merged Joyoung Co. and SharkNinja into JS Global Lifestyle and listed it on the Hong Kong Stock Exchange, making CDH Investments its second-largest shareholder.
2. Cross-border acquisition of YD Pharmaceutical Health and Sirtex: In 2012, CDH Investments invested in YD Pharmaceutical Health, becoming its second-largest shareholder. In 2018, CDH Investments and YD Pharmaceutical Health acquired the Australian listed company Sirtex, which possesses targeted radiation therapy technology for liver cancer, providing effective treatment for advanced liver cancer. This was a cross-continental acquisition involving a transaction worth 1.9 billion AUD.
3. Cross-border acquisition of WH Group and Smithfield Foods: CDH Investments invested in WH Group in 2006, becoming its second-largest shareholder. In 2013, CDH Investments and WH Group acquired Smithfield, the largest pork producer in the U.S., marking the largest acquisition by a Chinese company in the U.S. food industry, with a transaction amount of 7.1 billion USD.

As a renowned venture capital institution and alternative asset management company in China, CDH Investments has received honors such as China Annual Best Investment Institution, China Annual Best Venture Capital Institution, Annual Best Partner, China's Best Private Equity Investment Institution, China's Best Cross-border M&A Investment Institution, and China's Best Innovation and Growth Investment Institution.