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The Golden Lotus List of Top Investment Firms in the US and China 2018 is Revealed at the 2nd US-China FOF Summit

On August 17 2018 (EST), the 2nd US-China FOF Summit, which was held in Greenwich, Connecticut ended. Themed “Promoting a win-win partnership; remodelling the capital innovation value chain”, the Summit was jointly organized by the FOF Research Center and Wiser VC, and supported by the China FOF Alliance. A total of 80 representatives from the Consulate General of the People’s Republic of China in New York, as well as industry associations, FOF firms, private equity (PE) firms, and the media attended the event.

Guests at the Summit included the Consulate’s Science Attache, Xing Jijun; Consul Wang Tongtao; Chairman of the Chinese Committee (Connecticut), Hu Jin; President of the US-China Association of Commerce, Cui Zhisen; Secretary General of the China FOF Alliance and Founder of the FOF Research Center, Tang Jinchao; Harbourvest’s Managing Partner, Scott Vos; Shengjing FOF’s American Partner, Erik Lassila; Global Alpha Research’s Industry Representative, Bruce McGuire; GroveStreet’s Senior Manager, Tarek Saghir; Vice Chairman of CICC US Securities, Zhang Lanlan; CCB Asset Management Center’s Investment Manager, Cao Meng; Futian guiding Fund’s Chairman, Wang Shisheng; Shenzhen Gaotejia Investment Group’s Managing Partner, Huang Qing; WestSummit Capital’s Founding Partner, Yang Lei; and Anlong Medical Fund’s Founding Partner, Zhao Chunlin.

The Summit was opened with keynote speeches from the Science Attache of the Chinese Consulate, Xing Jijun; Chairman of the Chinese Committee (Connecticut) Hu Jin; and the President of USCAC, Cui Zhisen. They collectively expressed their hope that the Summit would be successful, and that the investment firms of the US and China would strengthen their working relationships in the fields of technology and business.

Representing the US, Global Alpha Research’s Industry Representative, Bruce McGuire, held a talk on the topic of “The Global Hedge Fund Industry and Experiences in China.” During his presentation, McGuire introduced the asset allocation strategies of hedge funds, and talked about the progress of global hedge fund industry as well as its trends. He also provided detailed advice on the industry for the benefit of Chinese fund managers. Subsequently, the Secretary General of the China FOF Alliance, Tang Jinchao, delivered his speech which was entitled: “The State of China’s FOF Industry and its Developing Trends.” He briefed the audience on China’s FOF industry, the problems it has faced over the past few years, and also gave a thorough analysis of the industry and its future.

During the Summit, other FOF industry leaders also delivered interesting talks about the industry. HarbourVest’s Managing Partner, Scott Voss, and GroveStreet’s Senior Manager, Tarek Saghir, both shared their perspectives on the industry from the American point of view, and highlighted success stories of the American FOFs. The Chinese perspective was also shared at the event by the Vice Chairman of CICC US Securities, Zhang Lanlan; CCB Asset Management Center’s Investment Manager, Cao Men; and Futian Guiding Fund’s Chairman, Wang Shisheng. They delivered speeches on the policy appeals and the business model innovations of China’s FOFs.

Following the speeches, a roundtable forum was conducted on the subject of “Facing Challenges Head-on: a Win-Win Partnership Between Chinese and US PE Firms.” The roundtable was hosted by Anlong Medical Fund’s Founding Partner, Zhao Chunlin, and its participants included Shengjing FOF’s American Partner Erik Lassila; WestSummit Capital’s Founding Partner, Yang Lei; and Shenzhen Gaotejia Investment Group’s Managing Partner, Huang Qing. The participants discussed the close working relationships of American and Chinese PE firms with investment firms, and also gave their views on how to tackle the issues currently being faced by both the US and China.

The Summit concluded with the revealing of the “Golden Lotus List of Top Investment Institutions in China and US” 2018, which was presented by Secretary General Tang Jinchao. The List was divided into the Top 100 Most Influential FOF Institutions in China and US, and the Top 100 Most Influential PE Firms in China and US; the companies were rated and selected by 100 FOF industry leaders from both countries. 70 of these leaders were from institutions that are members of the China FOF Alliance’s Work Coordination Unit (their ratings were worth 50%), while the other 30 leaders were from American institutions who are also global FOF leaders (their ratings were also worth 50%). The award recipients subsequently took the stage to receive the Golden Lotus plaque, and post for a group photo.

Overall, the Summit elicited exciting discussions between industry elites, introduced new opinions, new thoughts, and new ways of thinking, all of which can help to promote a win-win partnership and a remodelling of the capital innovation value chain. It also served to promote the exchanging of views between American and Chinese investment institutions on the industry’s global market value; it marks the beginning of a new era of FOF partnerships between the US and China.