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The
private equity firm, which is backed by Legend Holdings Corp
<3396.HK>, parent of personal computer maker Lenovo Group Ltd
<0992.HK>, will continue to scour the U.S. for investment
targets in the consumer, services and healthcare sectors, John
Zhao said at a press briefing in Hong Kong.
"There were some concerns when Trump just started his presidency
but now things have become clear: no matter who is the American
president, that person, including Trump, will have to take the
Sino-U.S. relationship very seriously."
Chinese investors have come under greater regulatory scrutiny in
the United States during the past year, and the new Trump
administration has spoken of retaliating to Chinese trade
practices that it deems protectionist.
Zhao said such developments were not a concern for Beijing-based
Hony, which manages about $10 billion worth of assets and which
has invested $300 million in the U.S. since 2014, including in
Hollywood film studio STX Entertainment and office space
provider WeWork.
"Our attitude is not wait-and-see. We will certainly continue to
look for assets and make investments in the U.S."
Hony, Legend and property developer China Oceanwide Holdings Ltd
<0715.HK>, among others, invested $700 million in WeWork last
year. The deal valued WeWork at $16.7 billion, according to Hony,
making it among the world's most valuable startups.
WeWork provides shared office space for users such as
entrepreneurs and freelancers in the Americas and Europe as well
as in Hong Kong and Shanghai. It plans to open a Beijing space
in May, WeWork co-founder Miguel McKelvey said at the same
briefing.
WeWork will continue to raise capital to finance expansion ahead
of an expected public listing, McKelvey said, without indicating
a time frame.
(Reporting by Julie Zhu; Editing by Michelle Price and
Christopher Cushing)
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