The truth about Asian investment banking
China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

March 2005

Marleen Groen

by Peter Koh

CEO, Greenpark Capital


Marleen Groen
Marleen Groen founded Greenpark Capital, a $700 million global secondary private-equity investment manager, in 2000.

Plans to close the firm's first fund by September 30 2001 were dealt a blow by the turmoil that followed September 11. But it would take much more than that to hold back a woman who once marched through an ancient Indian rainforest trail between Colombia and Panama with a machete. Jungle, mountains, rivers, ticks, snakes and a giant spider couldn't stop her then, so it is hardly surprising that the fund closed on target soon after.

Groen does not give up easily. After being forced a year ago to turn back 500 metres from the summit of Mount Kilimanjaro, Africa's tallest mountain at 5,896m, because of problems adjusting to the altitude, she went back this year and conquered it for charity. The oxygen level at that altitude is half that...


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