Mahon China is an established investment manager and advisor based in mainland China.

The firm assists investors to realise value from stressed assets and nonperforming loans in China, and has managed private-equity funds since the early 90s.

Mahon China also helps foreign companies to enter and expand in the market, acquire assets, assess partners, and analyse the Chinese economy.

 

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The highest virtue is like water: it benefits everything without exciting rivalries. We should be like water. Laozi, fifth century BC

About us

Mahon China is a partnership based in Beijing and operating throughout China.

Chinese high-speed train, Nick May

Mahon China was founded in 1985 by New Zealander David Mahon and was a pioneer of private equity in the mainland. The firm managed five funds which realised high returns for investors, and successfully exited from its fifth fund at the end of 2016.

Mahon China also restructures and exits assets, be they stalled funds, stressed equity investments, or nonperforming loans to Chinese companies.

For three decades Mahon China has advised multinationals and small/medium enterprises on their China strategies. The firm’s expertise includes China’s agriculture, food & beverage, specialised manufacturing and technology, and services sectors.

Meet the Mahon China team.

Chinese Website 中文网站

 

 

Realising returns

Mahon China maximises value for investors as both an asset restructurer and private-equity manager.

Greenhouse in Hangzhou, Andy Brandl Vegetable market vendor, Andy Brandl Chinese hydroponic greenhouse, Huitu.com
Stressed assets and nonperforming loans

Some private-equity China funds and foreign direct investments in Chinese companies established over the last ten years are now struggling to realise value. Through leveraging its experience and deep networks, Mahon China has assisted investors in a range of difficult situations.

In the last five years, Mahon China achieved exits from approximately 65% of the assets it managed. Mahon China also provides its clients with an informed, independent view when stressed assets have no further recoverable value and should be written off.

Our clients include limited partnership funds, international banks, and development finance institutions.

Scope of services:

• Managing distressed private-equity funds, by appointment of the fund’s limited partners

• Undertaking investigations and due diligence, buyer identification, and assisting investors and fund managers to stabilise investments

• Managing, restructuring, and exiting nonperforming loans and stressed equity positions held by international financial institutions

Funds management

Mahon China began managing private-equity China funds in 1992 as one of the country’s first fund managers. The firm has managed five funds totalling approximately USD 300 million, with investments made into 29 companies in sectors including agriculture, textiles, optical instruments, automotive parts, construction equipment, FMCG, and IT and telecommunication services.

Mahon China has consistently achieved high returns for its investors while fulfilling social and developmental responsibilities to investee regions. The investors have included development finance institutions, European and Asia-Pacific financial entities, and Chinese state-owned enterprises.

> Chang’an Automobile Group

> Lingyun Industrial Corporation Ltd

> Ningbo Tian’an (Group) Co. Ltd

> Tsinghua Tongfang Co. Ltd

> ET Solar Group

> Shinho Food Co. Ltd

Corporate advisory

China remains an opaque and complex market.

Suntech worker in Wuxi, Lucas Schifres
Solar panels in Urumchi, Philip Game

Mahon China draws from its hands-on experience in making and managing Chinese investments to assist companies and funds in developing and executing strategies, and to resolve client problems.

We offer:

• Boardroom advisory

• Tailored research into Chinese companies, sectors, and market trends for hedge funds and other investors

• Development of China market entry and expansion strategies

• Assessment and establishment of Chinese teams

• Identification of partners and due diligence

• Fundraising

> Mahon China has facilitated client investments in excess of USD 150 million in sectors ranging from agriculture and food & beverage to technology and services. We have assisted foreign companies to acquire land and other assets in major cities and remote rural areas.

> Mahon China played a key role as crisis advisor for Fonterra during the 2008 melamine incident.

> Mahon China successfully engaged in arbitration on three occasions on behalf of its foreign clients.

> Mahon China advised a Chinese city to identify international partners for its development project and has assisted Chinese companies to acquire assets globally.

Our team

Mahon China is headquartered in Beijing,

with offices in Ningbo,

London and Auckland.

David Mahon

Executive Chairman

David provides strategic leadership for the team, from deal origination to negotiations with potential exit partners.

• Managed five private equity portfolios in China and held direct responsibility for the management of over 20 Chinese companies

• Served on the boards of international and Chinese financial and industrial firms

• Three decades of experience advising multinationals entering and growing in the Chinese market, and analysing the Chinese economy

• Writes and publishes China Watch, a quarterly review of China’s political and economic developments; regular commentator in the Chinese and international news media

• Mandarin speaker and resident in China since 1984

more >close <

Jessie Sui

Managing Partner

Jessie leads the Mahon China team and the firm’s investment and advisory practices.

• Provides leadership for the team across the entire investment process, from due diligence to exit

• Co-ordinates and negotiates with key stakeholders to develop and execute exit strategies for funds, direct investments and distressed assets

• Recommends market entry and growth strategies for international firms

• Previously managed a team of 16 specialists at Thomson Reuters’ financial information division, providing financial research and data analysis for investment banking clients

• BA (Hons) (commerce) from Birmingham University; MSc (accounting & finance) from the University of Bath

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Zhang Yike

Senior Partner

Yike leads Mahon China's engagement with Chinese officials and stakeholders, and is an experienced restructurer and manager of factories.

• Member of the Mahon China team since 1995, beginning in the role of senior investment manager

• 11 years’ experience managing large SOEs employing more than 1000 employees, including: Beijing No. 1, No. 7 and No. 12 Rubber Factories; Beijing No. 1 Rubber and Plastic Factory; and Beijing Global Rubber Factory

• 12 years’ experience managing international and joint-venture companies

• Served as board chairman of Maqi Sporting Shoes, president and general manager of Furniture Origins Group Co., and China CEO of US-listed Hendrix Corporation

• Manages investee companies and oversees investments and M&A deals on behalf of Mahon China

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Wang Youlin

Investment Manager

Youlin is a core member of Mahon China's advisory and investment practices.

• Undertook sectoral, industrial, and company-level research and analysis

• Undertook due diligence across sectors including retail and specialized manufacturing

• Advised international companies on their Chinese expansion strategies

• Experiences in international leading fin-tech companies, managed the projects to support back-office operation of leading asset management company/private equity company.

• BA (finance) from Xi’an University of Technology; MSc (management) from the Xi’an University of Technology.

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Hugh Swire

Partner (UK and EU)

Hugh first worked for Mahon China in 1999 and rejoins the firm, based in London, following a decade with investment banks and funds across Asia.

• Supports the firm’s UK/EU-based clients with investments and corporate activities in China

• Provides bespoke research for investment firms into listed and unlisted Chinese companies

• Specialist knowledge in low-carbon water, energy, and technology businesses, with direct experience of helping companies to find partners and expand in China

• Advised clients on Japanese equities for Nomura in Tokyo and as Vice President worked in Asian equity derivatives for JP Morgan in London

• BA (Hons) in Chinese from Oxford University

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Huang Jingjing

Investment Manager

Jingjing manages Mahon China’s third-party service providers, undertakes research, oversees project logistics and develops new business opportunities.

• Advises foreign companies on regulatory compliance in China

• Conducts due diligence and research in sectors which include agriculture, food & beverage and retail

• Manages third-party advisors in an administrative role

• Works with team members and clients to arrange project logistics

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China Watch

Mahon China -The last quarantine

2022-12-24

Download

Mahon China Memo 20th Congress

2022-11-11

Download

Summer-Autumn 2016

Issue #113

Download

Latest News

  • On 29 Dec 2023, David Mahon’s interview on CGTN Dialogue.
  • On 31 May 2023, David Mahon’s interview on CGTN Dialogue.
  • On 10 Nov 2022, David Mahon’s interview on CGTN Dialogue.
  • On 31 May 2022, David Mahon’s interview on CGTN Dialogue.
  • On 19 October 2021, Pi conversation with David Mahon.
  • On 01 September 2021, David Mahon’s interview on China Data Security Law in  CGTN.
  • On 02 November, David Mahon’s interview on significance of 5-year plan model to China’s development in  CGTN.
  • On 24 October 2020, David Mahon’s interview on CGTN.
  • On 11 September 2019, an article by David Mahon was published in Caixin Global.
  • On 20 June 2019, an article by David Mahon on China-India trade dynamics was published in CaixinGlobal.
  • On 25 June 2019, an article by David Mahon on revisiting issues published in New Zealand Herald.

Contact us

4/F, Tower C, MinMetal Square,
No.7 North Chaoyangmen Avenue,
Dongcheng District,
Beijing 100010, China

See Directions

Centeredness is the cure for impulsiveness.

Serenity is the master of restlessness.

Laozi, fifth century BC