The Cathay family of funds, managed by New China Capital Management, consists of five funds dedicated to direct investment in China with total invested capital of US$755 million. Cathay's investors include numerous US and European-based investment funds, university endowments, family offices, trusts and high net worth individuals.
Cathay typically originates and acts as either the sole or the lead equity investor, providing growth capital to fast-growing private companies across a wide range of industries, including consumer goods and services, TMT, distribution & logistics, healthcare, and manufacturing. Wherever and whenever needed, Cathay provides portfolio companies with operational and capital market expertise with respect to both onshore and offshore IPOs, and trade sales.
With funds provided by Cathay, portfolio companies are able to expand their existing operations rapidly, often doubling or tripling earnings in just a few years. Capital provided by Cathay is used to fund working capital to meet growth, expand offerings and develop new markets, invest in plant and equipment or otherwise enhance a company's competitive attributes to make it more attractive for follow-on investments and an eventual value-realizing capital event.
Cathay has a strong track record of preparing its portfolio companies for appropriate capital market events. Since 1992, Cathay's portfolio companies have completed 17 IPOs on the New York Stock Exchange, NASDAQ, the Hong Kong Stock Exchange, as well as the Chinese domestic stock exchanges. Cathay has also facilitated numerous trade sales and private acquisitions, involving both international strategic investors and Chinese brand buyers. These transactions accumulatively have created billions of dollars of wealth for the founders and management of our portfolio companies.
As a growth equity provider, Cathay helps its portfolio companies to achieve capital market value by providing capable entrepreneurs with the necessary funding and advice on creating long-term strategic value. With a team of former experienced executives, investment bankers, lawyers, management consultants and CPAs, Cathay is also able to connect its portfolio companies with the top-tier underwriters as well as strategic and financial investors.
Cathay IPOs have been managed by top underwriters including Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse, and JP Morgan, many of which were oversubscribed and priced at the high end of the target price range. After an IPO, Cathay continues to provide strategic advice to its portfolio companies to maximize shareholder value.
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