Money Machine - A Trailblazing American Venture in China

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Private equity deal-making often remains secretive, but one legendary dealmaker reveals how a failing Chinese financial institution was transformed into a profitable entity without any government support. During the 2008 Great Financial Crisis, while banks in America, Britain, and Europe received government bailouts, one troubled bank in China managed to thrive without such assistance. The transformation was led by a US-based private equity firm, raising questions about how an American firm could take charge of a Chinese bank. This narrative explores the strategies employed to turn a struggling national bank into a robust, successful institution, all while navigating the complex landscape of Chinese regulations. It details the unprecedented steps taken in collaboration with Chinese regulators and the private equity process that followed, ultimately yielding substantial returns for investors in US dollars. Additionally, the story touches on a high-profile lawsuit in the US involving the Chinese bank, a Taiwanese-listed company, and significant implications for the Chinese government. The board, predominantly composed of Chinese businesspeople, included a major US shareholder and an American chairman, driving rapid changes within the organization.