DCP Capital Closes Their Debut PE Fund with US$2.5 Billion of Total Commitments
Time:2019-04-16 From:DCP

Beijing, Hong Kong – April 16, 2019 – DCP Capital (“DCP”), a leading international private equity investment firm, today announced the final closing of the firm’s first Greater China focused US dollar private equity fund, DCP Capital Partners I (the “Fund”), which closed at its cap of over US$2 billion in commitments. The Fund was significantly oversubscribed due to strong demand from leading institutional investors around the world, including sovereign wealth funds, pension funds, funds of funds, endowments, and family offices. Including a concurrently raised RMB fund, the total capital commitments reached approximately US$2.5 billion.

“We very much appreciate the trust and support of our limited partners globally,” said David Liu, Executive Chairman and Co-Founder of DCP. “Our limited partners represent some of the largest, most experienced institutional investors in the world with deep insights into investing in Asia. We are grateful for their recognition and endorsement of our team’s strong 26 year investment track record and our experience building great enterprises in the region.”

Julian Wolhardt, CEO and Co-Founder of DCP, added, “The Greater China region offers significant investment opportunities as the economy continues to develop through consumption upgrades and industry consolidation. We will continue to apply the disciplined, value-oriented investment approach that we have always practiced to generate attractive returns across multiple economic cycles. We believe this approach, coupled with our strong focus on driving operational improvements in our investee companies, is especially important in today’s investment environment in Greater China.”

The leadership team of DCP Capital has been investing in the Greater China region since 1993 and has led a number of successful and innovative investments and nurtured numerous industry leaders over the past 26 years. Before co-founding DCP, Mr. Liu was a Partner of KKR, Co-Head of KKR Private Equity Asia and CEO of Greater China and Mr. Wolhardt was also a Partner of KKR and served as its Regional Leader of China. Prior to KKR, Mr. Liu and Mr. Wolhardt led Morgan Stanley’s Private Equity business in Asia and China. During this investment history, Mr. Liu and Mr. Wolhardt have invested in and served on the boards of directors of many market-leading companies such as Ping An Insurance, Mengniu Dairy, Haier Electronics, Sunner Development, Far East Horizon, CICC, Belle International, Modern Dairy, China Cord Blood, COFCO Meat, Nanfu Battery, Hengan International, United Envirotech Ltd, Paradise Retail, Asia Dairy, Venus Medtech, and MFS Technology, among others.

“We have been fortunate to have earned the trust of management teams and entrepreneurs of many of the region’s leading companies during our 26 years of investing in Greater China,” added Mr. Liu. “We seek to build long term mutually beneficial partnerships that go beyond providing capital, and focus on systematically improving operations and creating value for our investee companies.”

The Fund invests in attractive sectors that benefit from domestic consumption upgrades and industry consolidation in Greater China, including the consumer, industrial technology, healthcare, agriculture / food safety, business services, financial services and TMT sectors. DCP’s investment strategy includes both traditional buyout transactions as well as significant minority opportunities. The investment team has developed a strong combination of global experience and local knowledge / networks over the past two decades, enabling them to source attractive, proprietary transactions. At the same time, being an Asia-based fund also allows an efficient decision-making process that fully incorporates their deep understanding of the local culture and business environment.

About DCP

DCP is an international private equity firm that focuses on investment opportunities in Asia. The DCP team previously led KKR and Morgan Stanley’s private equity businesses in Greater China, achieving an outstanding long-term track record across multiple economic cycles. Over the past 26 years, the DCP team led a number of successful transactions and nurtured numerous industry leaders, such as Ping An Insurance, Mengniu Dairy, Far East Horizon, CICC, Haier Electronics, Modern Dairy, Sunner Development, Belle International, COFCO Meat, Nanfu Battery, China Cord Blood, Hengan International, United Envirotech Ltd, Paradise Retail, Asia Dairy, Venus Medtech and MFS Technology, among others. Combining its global investment experience and extensive local network, the DCP team brings deep industry knowledge and strong operational capabilities to its investment activities. DCP is strongly supported by a diverse group of world-class long-term institutional investors, including leading sovereign wealth funds, pension funds, endowments, family offices and funds of funds around the globe. As a long-term value investor, DCP is committed to building long-term, win-win partnerships with portfolio companies and help support value creation initiatives.