PE firms flag rising challenge from China insurers

Chinese insurance firms, often a reliable source of capital for private equity managers, are increasingly bidding against general partners for deals, adding to already-fierce competition, said delegates at the HKVCA China Private Equity Summit in Hong Kong on Friday. What’s more, insurers have lower return expectations than GPs, which could help insurers win some deals, said Zhao Yan, Shanghai-based managing director of Citic Capital Partners, on the sidelines of the event. Insure…