Real estate private equity funds in China: A literature review

Yigang Wei, Tsun Ip Lam, Yat Hung Chiang, Yuk Ping Barbara Leung

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

1 Citation (Scopus)

Abstract

In many real estate markets, private equity (PE) funds have evolved as an important financial instrument to bridge capital gaps during property development. Over the last 20 years, PE has evidenced a dramatic growth and has arguably fuelled the rapid development of property markets in Japan, EU, and particularly the US, which is the origin of and the most mature PE market. PE has successfully emerged in China amongst tightened lending and contributed to vitalising the real estate market. However, the development of PE in China real estate industry is still at its initial stage. On one hand, the and lsquo;newness' nature is a two-edged sword, implying not just immense opportunities but also significant legal and market risks for fund sponsors and managers. On the other hand, there has been scanty research on PE due to the paucity of data. In this paper, an extensive literature review is presented in an attempt to identify knowledge gaps for future research. The literature review seeks to instill investors, managers, and issuers with the essential savvy of PE characteristics and structure, as well as opportunities and risks in China's real estate market.
Original languageEnglish
Title of host publicationProceedings of the 2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010
Pages155-165
Number of pages11
Volume2
Publication statusPublished - 1 Dec 2010
Event2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010 - Hong Kong, Hong Kong
Duration: 1 Jun 20102 Jun 2010

Conference

Conference2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010
Country/TerritoryHong Kong
CityHong Kong
Period1/06/102/06/10

Keywords

  • Opportunity and risk
  • Private equity fund (PE)
  • Real estate

ASJC Scopus subject areas

  • Building and Construction
  • Environmental Science(all)

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