Sun Hung Kai & Co.

In July 2010, CVC Asia Pacific Funds subscribed to the Mandatory Convertible Notes (‘MCN’) and warrants issued by in Sun Hung Kai & Co. Ltd. (‘SHK’), a Hong Kong-based financial services company.

Currently, holding over HK$60 billion in assets under management, custody and/or advice and more than HK$12.5 billion in shareholders' equity (as at December 2009), SHK has grown steadily since listing on the Hong Kong Stock Exchange. The company was originally established in 1969 as a domestic stock broker. Today, it offers a range of innovative products and services across five core areas of business: wealth management and brokerage, asset management, corporate finance, consumer finance and principal investments.

As the number one destination for large Chinese IPOs, the Hong Kong Stock Exchange has grown substantially and become the largest IPO market globally in 2009. From 2004-2009, the number of listed companies grew by 55% and trade volume grew six-fold. As the leading retail brokerage house in Hong Kong, SHK is well positioned to benefit from the overall market growth.

The Chinese consumer finance market is one of the last untapped territories within China’s promising financial services sector. It is expected to grow substantially in the coming years, driven by continued growth in consumer spending, low penetration and limited alternative financing options. In China, SHK has already established a foothold in Shenzhen with a number two market position. It has also established presence in three other cities in China. SHK is well positioned to capture the enormous growth potential in China’s untapped consumer finance market, leveraging on its strong foothold in Hong Kong.

Working with CVC and other shareholders, we are confident that UAF will be able to establish a successful franchise in one of the world’s fastest growing consumer markets.

Lee Seng Huang, Chairman

Date of investment

July 2010

Fund

Asia III

Business

Corporate and consumer financial services

Country

China

Turnover

US$633.5 million

Number of employees

5,108

Chairman

Lee Seng Huang

Company website

www.shkco.com