About First Beijing
A Research-Driven, Fundamental Approach to Uncovering Value in China
First Beijing
At a glance
Since 2009
An early value-oriented investor in China
~30
Employees
11 Local, on-the-ground Investment Professionals
Focused solely on China
Strong Alignment of Interest
The team invests hand-in-hand with clients
Extremely Stable Capital Base
Long-term partnership with clients
15 years
of generating consistent alpha
1. Leverage a research-intensive and value-oriented approach
By leveraging a research-intensive, value-oriented approach, we identify undervalued and misunderstood companies that either derive most of their revenue from or maintain most of their assets in mainland China. We focus on a single strategy to avoid distractions from the market.
2. Focus on long-term investment strategy to deliver attractive returns
We invest in companies which we believe are shareholder-friendly and will deliver attractive returns over a long-term investment timeframe. Our on-the-ground local team and long-term perspective enables us to develop an unparalleled understanding of businesses, allowing us to think differently and take a contrarian view when the opportunity arises.
3. Highly concentrated portfolio
We seek to build concentrated positions in our most compelling investment ideas in order to generate alpha. As a result, our top ten holdings generally represent the majority of our total exposure.
As a firm we place
significant emphasis on:
Integrity
- Our reputation is the most treasured asset of the firm
- We maintain a culture of prioritizing and aligning interests with our investors
Inclusion
- We provide in-house, on-the-job training to a carefully vetted research team, which has resulted in a strong cohesive culture and extremely stable team
- We create a meritocratic environment that encourages idea sharing, collaborative research and accountability of both successes and mistakes
Innovation
- We are a learning organization; we continuously strive to uncover new information and be the most knowledgeable investor in the industries and companies we invest in
- As a firm, we embrace new technologies to help us manage our business and stakeholder interests better
Significant Milestones
2005-2009
Sean worked at First Manhattan from 2005-2007. The First Beijing is launched with seed capital from co-founders Sean and Victor with partners of First Manhattan as key investors in Dec 2009.
2013
Commencement of Inaugural Junior Researcher training program with Peking University. With three years of track record under its belt, First Beijing opens the fund to a select group of clients.
2015
First junior researcher graduates from our training program and is promoted to a permanent full-time analyst.
2017
The investment team is now 8 strong with 5 analysts having graduated from the junior researcher program.
2019
First Beijing’s Assets Under Management exceeds USD500 million for the first time.
2020
Asset Under Management exceed USD1 billion. Investment team is now made up of over 10 professionals with ongoing talent being onboarded from top universities around the world.
Our Clients
We endeavor to build meaningful client relationships. We target clients seeking long-term value, and we are fortunate to have long-term, patient investors who have invested more capital during drawdown periods.
