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Private equity is by its nature and up and down business, but few tales hold a candle to that of Weijian Shan, the Chinese-born dealmaker who clinched one of the most unlikely and successful deals of the early 21st century.

My review of Shan Weijian’s highly-revealing new China book MONEY MACHINE. It’s a gripping fly-on-the-wall account of Newbridge’s famed and landmark acquisition of a controlling stake in Shenzhen Development Bank; the turnaround of that NPL-festooned financial institution; and its eventual sale by Newbridge to Ping An. A must read for anyone interested in China dealmaking, local government machinations and the culture that powers Peter Ma’s Chinese financial conglomerate Ping An.