This teaching note accompanies HBS case 820-040, Hony Capital and Jushi Group. John Zhao, CEO of Hony Capital, a China-based private equity (PE) firm with more than $12 billion under management, is considering his firm’s investment in Jushi Group, the world’s largest fiberglass manufacturer. The transaction has a number of unusual qualities: it is in the unlisted subsidiary of a publicly listed China-based company; Jushi’s majority shareholder is a government-related entity; the investment supports Jushi’s establishment of a plant in the United States; and finally, there is no stipulated agreement about an exit’s timing or method.
Keywords: real estate; Investing; manufacturing; Private Equity; Asset Management; Investment; Factories, Labs, and Plants; Finance; China; United States;
Citation:
Lerner, Josh, Shai Bernstein, and Ann Leamon. "Hony Capital and Jushi Group." Harvard Business School Teaching Note 820-073, December 2019. View Details
