Hony Capital Ltd., the Chinese private-equity firm that is buying London-based restaurant chain PizzaExpress for $1.54 billion in its biggest overseas deal yet, is interested in investing further in foreign consumer brands so it can build them up in China.

弘毅投资(Hony Capital Ltd.)将斥资15.4亿美元收购总部位于伦敦的连锁餐饮公司PizzaExpress，这即将成为该公司最大的海外交易。目前这家中国私募股权公司还有意对外国消费品牌做进一步投资，使这些品牌在中国拓展。

Hony Chief Executive John Zhao told The Wall Street Journal the Beijing-based firm isn't changing course on a long-held core strategy: investing in and helping state-owned enterprises restructure. But he said Hony now considers cross-border deals to be 'another major drive' of its strategy, as more large Chinese firms look to internationalize and more international brands seek to tap into China's growing consumer market.

弘毅投资首席执行长赵令欢(John Zhao)对《华尔街日报》(The Wall Street Journal)表示，该公司不会改变长期以来的核心策略，即投资国企并帮助国企重组。但他说，弘毅投资现在认为，随着更多大型中资企业寻求国际化、更多国际品牌寻求进军中国不断增长的消费市场，跨境交易将成为其策略的另一个主要驱动力。

'China, in the last 20, 30 years, being busy becoming the world's factory, has not done enough to produce brands, technology, service that could satisfy domestic requirements,' he said. 'We like to acquire and invest in these global brands, bring them to China and build growing businesses.'

他说，过去二、三十年，中国忙于成为世界工厂，没有做足够工作建立能满足国内要求的品牌、技术和服务。他说，弘毅投资乐于对相关全球品牌进行收购或投资，将这些品牌引入中国并建立日益增长的业务。

Hony Capital is one of China's largest private-equity firms, with assets of about $7 billion. It has stepped up its overseas deal making since its first cross-border deal. In 2008, it helped state-owned construction equipment giant Zoomlion Heavy Industry Science & Technology Co. purchase Italian equipment maker Compagnia Italiana Forme Acciaio SpA. Since then, Hony's overseas investments have included hotels, health care and technology. With the PizzaExpress purchase, Hony has joined a handful of private Chinese investment firms that have bought overseas consumer assets for more than a billion dollars with an eye toward building these businesses at home.

弘毅投资是中国最大的私募股权公司之一，资产规模约为70亿美元。该公司开始加大海外交易力度的时间要追溯到其第一桩跨境交易。2008年，弘毅投资帮助中国国有建筑设备巨头中联重科股份有限公司(Zoomlion Heavy Industry Science & Technology Co.)收购了意大利设备生产商Compagnia Italiana Forme Acciaio SpA。自那以来，弘毅投资的海外投资范围纳入了酒店、医疗保健和科技资产。通过收购PizzaExpress，弘毅投资加入了一些中国私募股权投资公司的行列，这些公司都斥资超过10亿美元收购了海外消费者资产，着眼于在中国发展相关业务。

'We want to make sure that we position ourselves to satisfy [the] ever increasing consumer demand in China,' said Mr. Zhao.

赵令欢称，公司希望能够找好自己的定位满足中国不断增长的消费者需求。

As an example, he cited Hony's collaboration earlier this year with U.S. buyout firm TPG Capital and movie producers Robert Simonds and Gigi Pritzker to invest more than $1 billion over five years in a new Hollywood studio that will make films to be distributed globally, including in China. He also cited Hony's June undisclosed investment in Deem, a San Francisco e-commerce firm Deem.

赵令欢举了这样一个例子：弘毅投资今年早些时候和美国的收购公司德太投资(TPG Capital)以及电影制片人西蒙兹(Robert Simonds)和普利兹克(Gigi Pritzker)一道计划在未来五年向一个新的好莱坞电影制片厂投资超过10亿美元，该制片厂制作的电影将在全球发布，其中包括中国。赵令欢还提及了弘毅投资6月份宣布向旧金山的电子商务公司Deem投资。这一投资规模未披露。

PizzaExpress has several branches in Beijing, Shanghai and Hong Kong but plans to expand further in China, under Hony.

PizzaExpress在北京、上海和香港已经开设了数家分店，但计划在被弘毅投资收购后在中国进一步扩张。

Hony wants to build all its investments 'around what China needs,' Mr. Zhao said, adding that it sees itself as 'a Chinese investor,' not 'an international investor,' even as it expands it reach.

赵令欢称，弘毅投资希望完全根据中国市场的需求来进行投资。他还表示，尽管弘毅投资计划向海外扩张，但依然认为自己是一家中国投资公司，而非国际投资公司，

While Hony is buying PizzaExpress alone, he said the firm remains open to co-investing alongside other companies when going abroad.

虽然弘毅投资是独自对PizzaExpress进行投资，但赵令欢表示，该公司依然对在海外市场和其他公司联合投资持开放态度。

He declined to comment on United Biscuits, the British snack-and-cookie maker that a person familiar with the situation said Hony is interested in buying.

他拒绝就United Biscuits发表评论。United Biscuits是英国一家小食品和饼干生产商，知情人士说，弘毅投资有意收购这家企业。

He did say, however, that one area Hony and other Chinese players have been interested in is packaged foods, and especially branded ones. United Biscuits, bought by private-equity firms Blackstone Group L.P. and PAI for GBP1.6 billion ($2.7 billion) eight years ago, is still engaging in talks with interested buyers but is also weighing a year-end initial public offering, The Wall Street Journal reported in July, citing people familiar with the matter.

不过，他的确表示，弘毅投资和其他中国投资者一直都很感兴趣的一个领域是包装食品，特别是有自己品牌的包装食品。《华尔街日报》今年7月份引用知情人士的话报道说，United Biscuits眼下仍在与有意向的买家进行谈判，而且也在考虑在年底进行首次公开募股。八年前，百仕通集团(Blackstone Group L.P.)和PAI这两家私募股权公司斥资16亿英镑（合27亿美元）买下了United Biscuits。

In China, Hony is sticking to investing in state-owned enterprises and helping them become more market-oriented, a broad goal that China's policy makers have emphasized. Mr. Zhao said 'easy' investment opportunities into SOEs that were 'operating badly' are gone, leaving SOEs that are in 'reasonably good shape.'

在中国，弘毅投资坚持投资于国企的战略，帮助这些企业变得更加以市场为导向，这是中国的政策制定者一直在强调的一个总体目标。赵令欢说，投资于运营不良的国企的好机会已经没有了，剩下的国企的状况都还不错。

The firm's most recent investment in an SOE is a 12.43% stake worth 3.04 billion yuan ($486.7 million) in Shanghai Jin Jiang International Hotels (Group) Co., announced by the state-owned operator of midrange hotels last month.

弘毅投资最近一次对国企的投资是斥资人民币30.4亿元收购上海锦江国际酒店(集团)股份有限公司(Shanghai Jin Jiang International Hotels Group Co.) 12.43%的权益，该交易是这家国有中档连锁酒店运营商上个月宣布的。

Buying into large privately-owned firms is 'still coming' and it will take 'a bit of time for that sector to become a large sector,' said Mr. Zhao.

赵令欢表示，入股大型私人控股公司的交易正在考虑之中，这一部分业务要做大仍需时日。

Hony is investing from two funds, a $2.4 billion dollar fund and a 10 billion yuan-denominated fund. It has no plans for fundraising yet, as it is about halfway through those two pools, said Mr. Zhao. He declined to comment on returns.

赵令欢表示，弘毅投资的投资资金来自两只基金，即规模24亿美元的美元基金和规模人民币100亿元的人民币计价基金。该公司目前没有筹资打算，因为目前这两个基金池尚有一半余额。对于投资回报率他不予置评。

Hony is backed by Legend Holdings Ltd., a quasi-government conglomerate that owns Chinese computer maker Lenovo Group Ltd. Hony is known for a more sophisticated and Western approach to investing compared with its Chinese peers. Investors in the firm's private-equity funds include North American pension funds, the Bill & Melinda Gates Foundation, Goldman Sachs Group Inc. and China's national Social Security Fund. Mr. Zhao, who is both Chinese- and Western educated, is an executive vice president at Legend.

弘毅投资背后有准国有大型企业联想控股有限公司(Legend Holdings Ltd.)的支持，后者拥有中国电脑制造商联想集团(Lenovo Group Ltd.)。弘毅投资因更为老练和西方化的投资手段而在业内声名鹊起。该公司的私募股权基金的投资者包括北美退休基金比尔及梅林达•盖茨基金会(Bill & Melinda Gates Foundation)、高盛集团(Goldman Sachs Group Inc.)和中国社保基金(Social Security Fund)。赵令欢是联想的执行副总裁，有海外留学经历。