AVCJ China Awards: PE professional of the Year – Homer Sun
Somewhat unusually for Morgan Stanley Private Equity Asia’s (MSPEA) China team, the last 12 months have been dominated by buyout deals. Leading Beijing convenience store chain Hi-24 was acquired last November through a corporate carve-out and then two more buyouts – take-privates of US-listed dairy producer Feihe International and crop nutrients specialist Yongye International – are pending. The Feihe deal has already won board approval.
"Hi-24 entails a classic buyout arrangement of equitizing management to better align incentives with shareholders. Management, in turn, look to us to provide a level of support to growth the business that...
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