Boyu Capital is regarded as among the most professional operators in China private equity, with seasoned executives at its helm. But according to multiple investors, Alibaba and Cinda are not only what lures them to Boyu.
Investors were also impressed with Boyu’s 2011 purchase of a controlling stake in Sunrise Duty Free – which runs all the duty-free stores at Shanghai and Beijing’s international airports. That deal, they believe, provided evidence that Jiang Zemin’s grandson could gain access to a strictly controlled state sector and convert those assets into a highly profitable investment. Read full story