Yinghan Assets makes post-investment management its priority
And there’s a lot more to that than just ‘sending one or two executives to the project and flipping through financial statements’, says Xie Ping, its founding partner and president
Navigating property investment in China can be a tricky task. Everything can be working well and look perfectly on track, before something unexpected throws a spanner in the works: policy changes, a meltdown in cashflow or chicanery by partners, can wreak havoc on entire businesses.
Xie Ping, founding partner and president of Yinghan Assets, a Shanghai-based real estate private equity (PE) firm that manage 16 billion yuan($2.4 billion) asset, knows this all too well.
“Many real estate PE professionals tell me they have never come across much trouble. But my instant reaction is: ‘you’re too young. You can’t claim you can manage a mature fund until you have run into some kind of trouble’.”
What makes her so risk-aware is a 20 year career in China’s property sector, working with and for developers, trust companies and PE funds.
She has drawn lessons from past woes, from miscalculation of market prices, to product positioning failures, budget overruns, and developers embezzling funds.
That has now driven her, she says, to set “post-investment management” as her top priority, and the hallmark capability of Yinghan when she co-founded the fund in 2014.