China-focused PE Hosen Capital closes US dollar Fund III at $800m

Photo by Josh Appel on Unsplash

Hosen Capital, a China-focused private equity firm focused on the food and consumer sectors, on Thursday announced the final closing of its third US dollar fund, Hosen Private Equity III, with total capital commitments of $800 million.

In a statement, the firm said that Fund III was oversubscribed by existing and new investors including asset managers, university endowments, pension funds, sovereign wealth funds, funds of funds, family offices, and investment consultancy institutions from the Asia Pacific, Europe, North America, and South America. Its limited partners (LPs) also include global strategic corporations and investors.

In line with its prior funds, Hosen Capital plans to continue investing in buyout and growth opportunities in the food and consumer fields. It seeks to help portfolio companies accelerate their business plans and amplify growth potential, creating leaders “through buy-and-build and sector consolidation,” the firm said.

Founded in 2010, Hosen Capital is led by founding partners Alex Zhang and Chris Wang, who was previously second-in-command at China’s top feed producer New Hope Group. Backed by LPs such as Singapore state investor Temasek and Japanese trading house Mitsui & Co, Hosen Capital previously raised a $130-million and a $460-million US dollar fund, as well as RMB-denominated funds at $446 million.

By far, the firm has made investments in over 50 deals, including 10 buyouts. The aggregate revenues of its portfolio companies amount to $2.6 billion, shows its website. It has offices in Beijing, Shanghai, Chengdu, Hong Kong, and Tokyo.

In an interview with Bloomberg in April 2019, Wang said that the firm targeted to raise as much as $1 billion for the third US dollar fund. He said that the firm was actively looking to buy stakes in Asian food products in markets like Japan, South Korea, and Taiwan.

Some of Hosen Capital’s most prominent portfolio companies include hotpot chain Haidilao, infant milk producer China Feihe, hyaluronic acid (HA) and medical beauty products maker Bloomage Biotechnology, and Hong Kong-listed Chinese food delivery giant Meituan.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.