Foreign Lawyer in Shanghai:
“I would describe business at 80% of the equivalent volume last year. Therefore of my four assistants, work is enough to keep three busy.”
Private equity consultant now focusing on corporate restructuring:
“A lot of big funds had excess capacity so it went into alternative investments like private equity. While you might have had 5% in alternative investments, now you find yourself over-invested by 2.5% and you want to get out. Billions in private equity money came into China and some of deals were valued at 30-50 times current earnings due to their future expectations. We have a play book to help these guys get out.”
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