China’s Hina Looks for Returns in the Bottom of a Glass

When it comes to wine, China is falling off the wagon and taking private equity with it. One mainland private equity firm, Hina Capital Partners, which manages both yuan and dollar-denominated private equity vehicles, is setting up a $100 million wine-related fund to invest in vineyards across the U.S. The formation of the new fund was largely in response to the firm’s high net-worth investors seeking to diversify their portfolios, said Managing Director Hanson Li. Wealthy Chinese citizens, who have become active buyers of property both at home and abroad are now looking to invest their dollars in different assets, especially as domestic house prices rise and the government aims to curb multiple purchases. China’s love affair with the grape has been burgeoning, even with Shanghai native and former Houston Rocket-player Yao Ming launching his own Californian winery that will specifically cater to the mainland market’s taste, called Yao Family Wines. By: Sonja Cheung