DCP Capital
From Wikipedia, the free encyclopedia
 | |
Native name | 德弘资本 |
|---|---|
| Company type | Private |
| Industry | Private equity |
| Founded | 2017 |
| Founders | David Liu Julian Wolhardt |
| Headquarters | Beijing, China |
Key people | David Liu (Chairman) Julian Wolhardt (CEO) |
| AUM | US$5.5 billion (2023) |
| Website | dcpcapital |
DCP Capital (also known as DCP and Dehong Capital Partners; Chinese: 德弘资本; pinyin: Déhóng zīběn) is a Chinese private equity firm headquartered in Beijing, China. The firm focuses on the consumer, healthcare, education and technology sectors in Asia.[1][2][3]
In 2016, David Liu and Julian Wolhardt left their positions at Kohlberg Kravis Roberts to form their own investment firm. Both of them were previously Partners at the company where they were in charge of investments in the China region. Prior to that, they both worked together at Morgan Stanley Private Equity.[4][5][6][7]
In 2017, the duo established DCP which would focus mainly on China. The firm's strategy was to focus on buyout deals especially in situations when a family business is seeking to by sold because the founder's children were not interested in taking over. DCP would also focus on state-owned enterprise reforms and taking companies private. At the same time, DCP would look at cross-border deals between overseas businesses and the Chinese market.[2][3][6][7]
In April 2019, DCP raised $2.5 billion for its debut fund which at the time was the sixth biggest China fund since the 2008 financial crisis. The fund was significantly oversubscribed due to strong demand and its investors included GIC, Temasek Holdings, Caisse de dépôt et placement du Québec and the New York State Common Retirement Fund.[3][6][7]
In October 2019. DCP released a statement condemning imposters who have been using its brand name to defraud investors. It stated that the fraudsters replicated its official information online and tried to collect funds from the public by selling them wealth management products. The fraudsters used a mobile app which had an identical copy of DCP's official website and offered investment products such as futures on crude oil and gold. DCP has stated it has never offered any of these products.[8]
In June 2022, DCP raised $2.5 billion out of its $3 billion target for its second fund. The State Board of Administration of Florida was one of the investors and committed $100 million to the fund.[9][10]
