On May 18, Hermitage Capital announced that former J.P. Morgan investment banker Henry Zhang will be joining as the firm’s President and Managing Partner.
Henry Zhang has over a decade of investment banking experience and held various senior positions at bulge bracket investment banks including Executive Director of Investment Banking Division at J.P. Morgan, responsible for investment banking in China’s transportation, logistics and enterprise technology sectors; Vice President and Operating Officer of China Investment Banking at Morgan Stanley; and Associate Director of Asia-Pacific Investment Banking Department at UBS. He has successfully led and participated in over 60 transactions with aggregate transaction value of over USD60 billion. Some of his landmark transactions include Meituan Dianping’s USD4.2 billion Hong Kong IPO (the world’s largest community e-commerce IPO ever), ZTO Express’s USD1.4 billion U.S. IPO (the biggest U.S. IPO in 2016), and BOC Aviation’s USD1.1 billion Hong Kong IPO (the world’s biggest leasing IPO ever), and the RMB43.3 billion backdoor listing of S.F. Holding.
Moreover, Henry Zhang has led many landmark cross-border M&As in China and played a key role in the important negotiations. Some of the selected transactions include the acquisition of 49% stake of 10 global ports under the CMA CGM on behalf of China Merchants Port, the acquisition of 51.8% stake of Kerry Logistics on behalf of S.F. Holding, the acquisition of Toulouse Airport in France on behalf of Shandong Expressway and FPI, the sale of Istanbul Kumport (Turkey’s third largest port) to a Chinese consortium comprised of China Merchants Group, COSCO and China Investment Corporation, the sale of a minority stake in Autostrade per l’Italia (Italy’s largest expressway operator) to Silk Road Fund.
Sean Xiang, Founder, Chairman and CEO of Hermitage Capital stated, “Henry Zhang has over a decade of experience in China and global capital markets. We believe that with his unique industry insights and outstanding deal sourcing capability, he will play a key role in developing Hermitage Capital into a leading private equity fund in Asia. I am very much looking forward to working with Mr. Zhang closely to continue investing in the leading enterprises in China’s New Economy sectors, and to create excellent returns for our LPs.”
Henry Zhang said: “Since its establishment in 2017, Hermitage Capital has become one of the fastest-growing private equity firms in Asia. The partners at Hermitage Capital all came from top-tier global financial institutions. I am thrilled to join this platform and looking forward to working with the best talent in the industry. ”
About Hermitage Capital
Established in 2017, Hermitage Capital focuses on investing in the leading enterprises in China’s New Economy sectors and has become one of the fastest-growing investment groups in Asia. It is headquartered in Hong Kong with an office in Shanghai. It has invested in 20 well-known private equity deals and the assets under management have exceeded USD1 billion. Four of its portfolio companies, namely Tencent Music (TME.US), Lufax (LU.US), 360 DigiTech (QFIN.US) and PINGAN OneConnect (OCFT.US) have been listed in the U.S. In addition it expects to have another five portfolio companies, including Ximalaya Inc. and WeDoctor Group, to be listed in Hong Kong or the U.S. by the end of 2021. Some of its other portfolio companies include Airwallex, Sensetime, Horizon Robotics, Medlinker, Ping An HealthKonnect, Haodf.com and VoxelCloud.