Who We Are

ShoreVest Partners is the leading institutional investment firm specializing in private credit in China, having pioneered the space over 20 years ago.

The ShoreVest team has managed over US$2 billion in private credit investments in China on behalf of institutional investors from around the world, including sovereign wealth funds, pension funds, insurance companies, foundations, endowments and family offices.

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20+ year track record of consistent returns, focused on first-lien downside protection and margin of safety.
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Credit solution provider, helping companies and financial institutions solve problems and unlock value.
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Unparalleled local execution capability, integrated with the highest international institutional standards.

ShoreVest leverages these core competencies to find and create value in the world’s second largest credit market.

Vision & Principles

ShoreVest’s vision is to deliver consistent returns throughout cycles in China’s private credit market by maintaining a long-term platform with the unique capability to:

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Source proprietary opportunities, information and exit channels not broadly available to the market.
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Apply disciplined analysis to each opportunity, with a focus on downside protection (usually in the form of first-lien claims on real estate collateral).
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Uphold the highest ethical standards and proper alignment of interests with our investors during this process.

At the end of the day, our business is a human business, centered on relationships of trust with both the networks that provide us opportunities, and the investors that entrust us with their capital.

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Read Our Publication Here

Investment Strategy

ShoreVest is a multi-strategy credit solution provider.  The Firm specializes in asset-backed private credit, where a low loan-to-value or cost-to-value provides significant margin of safety, and where ShoreVest’s ability to provide a credit solution produces alpha.

The strategy mainly comprises:
Asset-Based Lending:  First-lien asset-backed financing to well performing companies
Asset Restructuring:  Credit clean-up opportunities with good assets/bad balance sheets
Debt Resolutions:  Helping financial institutions who need to sell distressed debt, such as non-performing loans (NPLs)

As the second largest credit market in the world, China presents ShoreVest with a massive market in private credit.  As China’s debt capital markets further develop, opportunities across ShoreVest’s various sub-strategies will continue to arise. ShoreVest is well positioned to predictively source and participate in all of these credit opportunities over time as they emerge.

Strategy Allocation

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Asset-Based Lending

First-lien asset-backed financing to well performing companies.

Asset Restructuring

Credit clean-up opportunities with good assets/bad balance sheets.

Debt Resolutions

Helping financial institutions who need to sell distressed debt, such as non-performing loans or “NPLs” for regulatory reasons.

Team

ShoreVest is comprised of many of the most experienced senior professionals in China’s private credit market.  The Firm has built and maintained a long-term team with complementary backgrounds and skillsets.

It is our belief that there is no platform in the world that can compare with ShoreVest’s depth of experience in Chinese private credit. As such, ShoreVest expects the best from our colleagues, in both ethics and performance, and we provide an alignment of incentives and a shared corporate culture that encourage this result.

Managing Partner, Founder

Benjamin Fanger

Mecy Mei
Partner

Mecy Mei

Hui Zheng
Partner

Hui Zheng

Partner

Michael Chang

Cathy Chen
Senior Legal Counsel

Cathy Chen

Ada Bi
Partner, CFO

Ada Bi

Senior Advising Partner

Philip Young

Director of Client Solutions (ex-Asia)

John Jones

Partner

Shanjuan Jiang

Economic Advisor

Dinny McMahon

Daoping Yang
Managing Director, ShoreVest Asset Solutions

Daoping Yang

Managing Director, ShoreVest Asset Solutions

Xiaoqiang Ji

Managing Partner, Founder

Benjamin Fanger

Benjamin Fanger is the Managing Partner and Founder of ShoreVest Partners and a pioneer in China’s private credit markets. He has managed over $2 billion in the space, invested by institutions from all over the world, and sits on ShoreVest’s Investment Committee. In over 20 years of Chinese private credit experience, Mr. Fanger has worked to create capital solutions with countless asset sellers, borrowers, and financial institutions in China. Prior to founding ShoreVest and Shoreline Capital, Mr. Fanger started several companies, two of which he sold to public companies. During graduate school, he also worked at the law firm O’Melveny & Myers on early Chinese distressed debt and private equity transactions. Mr. Fanger has been fluent in spoken and written Chinese for almost 30 years. He also holds a JD and MBA from the University of Chicago and is a licensed attorney in the State of California.

Partner

Mecy Mei

Ms. Mei is a Partner at ShoreVest. She also sits on the Investment Committee. Prior to ShoreVest, she was a Partner at Shoreline Capital where she served for eight years. Her investment experience runs the full spectrum of Chinese private credit investments. Ms. Mei has overseen the successful completion of numerous deals, from deal sourcing, due diligence, deal structure to acquisition/negotiation and monitoring and exits. Prior to ShoreVest and Shoreline Capital, Ms. Mei worked at Morningstar as a fund analyst where she focused on fund strategy analysis. In that capacity Ms. Mei worked closely with outside clients in creating portfolios of debt and equity in China. She holds a bachelor’s degree in economics from Hefei University of Technology and a master’s degree in economics from Nanjing University. She was awarded the CFA designation in 2018.

Partner

Hui Zheng

Ms. Zheng is a Partner at ShoreVest. She also sits on the Investment Committee. Prior to ShoreVest, she was a Partner at Shoreline Capital where she served for eight years. Her investment experience runs the full spectrum of Chinese private credit investments. Ms. Hui has overseen the successful completion of numerous deals, from deal sourcing, due diligence, deal structure to acquisition/negotiation and monitoring and exits. Prior to ShoreVest and Shoreline Capital, Ms. Zheng was involved in the liquidation of non-performing loan assets when she was with a Guangdong law firm as an attorney. Ms. Zheng has published several papers including “Negative Impacts the New Bankruptcy Law has on the Liquidation of Non-performing Assets.” She holds a law degree from Nanchang University of Law and holds an LLM in economic law on foreign business from Sun Yat-sen University School of Law.

Partner

Michael Chang

Michael Chang is a Partner at ShoreVest. In this role, Mr. Chang advises on ShoreVest’s human resources, information technology, finance, and compliance departments. He brings over a decade of experience in investment management in the United States and Asia, having worked at Stamos Capital Partners, Bridgewater Associates, and Cambridge Associates. He holds an MBA from MIT Sloan and a BA from Stanford University.

Senior Legal Counsel

Cathy Chen

Ms. Chen is a Legal Counsel at ShoreVest and an observing member of the Investment Committee. Ms. Chen graduated from Fudan University of People’s Republic of China with a Bachelor of Laws degree and is a qualified lawyer in China.

Partner, CFO

Ada Bi

Ms. Bi is a Partner and the Chief Financial Officer of ShoreVest. She also sits on the Investment Committee. She oversees the firm’s finances, tax, fund reporting, cash management, and invested projects’ financial control, and as such has overseen structural operational elements of numerous deals. Prior to joining ShoreVest, Ms. Bi was the CFO at Shoreline Capital from 2008 until 2016. Prior to 2008, Ms. Bi was the Head of Finance for AIG Insurance Company in charge of financial reporting, treasury, tax and budgeting for the property and casualty arm of AIG in China. She also worked previously for CITIC-Prudential and Royal Bank of Canada. Ms. Bi is a Fellow member of the Association of Chartered Certified Accountants, as well as a member of Chartered Professional Accountants (Canada) and holds a bachelor’s degree in international trade from Guangdong University of Foreign Studies in Guangzhou, China.

Senior Advising Partner

Philip Young

Philip Young is a Senior Advising Partner at ShoreVest, working with the firm to advise on investment strategy and business development. Previously, Philip was an Independent Director at TransGlobe Life Insurance Company in Taiwan. He also served as a Senior Advisor in several wealth management companies in China. Earlier in his career, Philip directed investments of various Chinese and Japanese insurance companies. Years of working in the financial industry in Greater China and the Asian region give him a deep-rooted network in the senior management of the industry and broad knowledge of the Asian capital markets. He interacts with the traditional and alternative assets outside the region as well. Philip holds a BS degree from National Taiwan University and an MBA from University of Chicago.  He also has a Diploma in International Investment from Stanford University. Philip currently teaches in the Finance Department at National Taiwan University in Taipei and the Institute for China Business of Hong Kong University. In addition, he authored “The Essence of Wealth Management,” published in 2022.

Director of Client Solutions (ex-Asia)

John Jones

As Director of Client Solutions (ex-Asia), Mr. Jones leads client engagement across the Americas, Middle East, and Europe.  With over 15 years of experience, he has directed business development efforts across public and private credit investment strategies.  He was previously a member of PIMCO’s FIG business and provided asset management and advisory services for insurance company general account investments.   He also worked with two emerging systematic alternative managers focusing on corporate strategy and fundraising.

Mr. Jones earned a BA in economics from the University of Southern California and an MBA from The University of Chicago.  While pursuing his undergraduate degree, he spent two years as a volunteer on a Mandarin speaking service mission for his church.

Partner

Shanjuan Jiang

Ms. Jiang is a Partner at ShoreVest and an observing member of the Investment Committee. Prior to ShoreVest, she worked in private equity investments at CICC (China’s largest investment bank), CalPERS, and Franklin Templeton’s China alternatives business. Ms. Jiang holds a PhD in Mechanical Engineering from UCLA and an MBA from UC Davis. She also has a Bachelor of Science from Tsinghua University.

Economic Advisor

Dinny McMahon

Dinny McMahon is an Economic Advisor to ShoreVest, working with the firm to analyze the dynamics of China’s credit markets, and assisting the investment committee in its strategic directions.  In this role, Dinny actively analyzes the state of China’s commercial banking system, the volume and nature of the banks’ non-performing loans and clean up efforts, as well as other macroeconomic matters affecting ShoreVest’s deal sourcing and execution. Dinny McMahon spent ten years as a financial journalist in China, including six years in Beijing with The Wall Street Journal, and four years with Dow Jones Newswires in Shanghai, where he also contributed to the Far Eastern Economic Review. In 2015, he left China and The Wall Street Journal to take up a fellowship at the Woodrow Wilson International Center for Scholars, a think tank in Washington DC, where he wrote China’s Great Wall of Debt: Shadow Banks, Ghost Cities, Massive Loans, and the End of the Chinese Miracle, a book about the Chinese economy that was published in 2018. Until recently he was a fellow at MacroPolo, the Paulson Institute’s think tank, where he wrote about China’s efforts to clean up its financial system. Dinny currently does research on China’s financial system for financial services firms. Dinny is fluent in Chinese, having studied the language in Beijing and Kunming, and followed by a year at the Johns Hopkins SAIS campus in Nanjing where he studied international relations in Chinese.

Managing Director, ShoreVest Asset Solutions

Daoping Yang

Mr. Yang is a Managing Director and a head of Eastern China at ShoreVest Asset Solutions or SAS (ShoreVest’s captive servicer platform, which manages the servicing of distressed assets for the ShoreVest funds across China). He is a seasoned senior executive in China; since 2015 Mr. Yang has worked on alternative investments focused on NPLs, real estate and energy. Prior to 2015, Mr. Yang spent twenty years as an executive at Sinopec, responsible for various aspects of global and regional supply, pricing, and trading. Mr. Yang holds an MBA from China Renmin University and has studied at Georgia Institute of Technology.

Managing Director, ShoreVest Asset Solutions

Xiaoqiang Ji

Mr. Xiaoqiang Ji is the Beijing head of ShoreVest Asset Solutions or SAS (ShoreVest’s captive servicer platform, which manages the servicing of distressed assets for the ShoreVest funds across China) and is in charge of SAS’s deal sourcing and servicing in Northern China. Before joining SAS, Mr. Ji was a personal investor in alternative assets, and also the CEO of a joint venture company in partnership with one of China’s largest steel trading companies, Hangzhou Relian Group. Prior to that, Mr. Ji worked at a state-owned enterprise for 16 years and was responsible for the allocation and transport of all coal and oil used nationwide for power generation by state-owned power companies. The annual value of coal and oil he allocated was in excess of USD 150 billion. He is a seasoned businessman with many years of experience operating in China. Mr. Ji holds an EMBA from Tsinghua University and a BS from North China Electric Power University.