Local Lowdown: Shanghai
This article was originally published on Private Equity International in May 2018, written by Sun Dayi.
The main LPs to meet? The most jaw-dropping view? The best breakfast spots? Shanghai-based executives Sun Dayi and Chris Lerner give hints for frst-time visitors.
Which Airport Should I fly Into?
Hongqiao, if your destination is not the Pudong area, says Sun Dayi, founding partner of Haiyi Capital. “It is much closer to the city. However, if you want to try the Maglev train, it connects Pudong Airport.”
Where’s best to stay?
“If you are not in town exclusively on business then the Peninsula is a beautiful modern property with classic Shanghai art deco flare. The service and food are excellent. Check out the rooftop bar for a great view of the Bund,” says Chris Lerner, head of Asia for Eaton Partners.
Any recommendations for a breakfast meet?
“For power breakfasts, the Waldorf probably wins,” says Lerner. “But formal is not always the way to go: try al fresco spots on Anfu Road or for Shanghainese try Da Hu Chun.” Sun cautions that local eateries can be noisy, so suggests a hotel or the Element Fresh restaurant in the Jing’an district.
Which restaurant would impress a client?
Shanghai is a host to wonderful private eating clubs and dining venues in renovated landmarks such as KEE Club, Guilin Mansion and Fu1015, says Lerner. Failing that, “the Michelin guide is a good start”, says Sun.
Which building has the most jaw-dropping view?
The buildings on the North Bund, including the Grand Hyatt and the W Shanghai, are best, says Sun. Lerner agrees: “Since it frst opened in 1999-2000, Cloud 9 [at the top of the Hyatt’s Jin Mao tower] has never disappointed for a birds-eye view,” he says.
Which LPs should I visit?
“There are some large insurance companies based in Shanghai, such as Ping’an, CPIC and Taiping. These frms have invested in GPs overseas. Shanghai is also the home office for many independent wealth management companies. Gopher, the largest among them, invests in USD GPs,” says Sun.
Where should I head for a night out?
The best place to hang out is probably the Bund or Xintiandi, says Sun, but for better value head to the Dagu Road which is “within walking distance of two of the best jazz bars in Shanghai”. Lerner suggests
strolling “the former French concession in Xuhui District for the best mix of lounges, clubs, drinking establishments and late night hang-outs”.
Where do you suggest for a morning run?
Lerner recommends historical Fuxing Park, while Sun says the ex-French concession and Century Park are both popular places to jog.
Where’s the most enjoyable day trip?
“Start from old Yuyuan in the morning, then move to the ex-French concession for lunch,” says Sun. “In the afternoon, you can explore the local designer stores there and the many small cafes. Move to the Bund for dinner and the view, then to Xintiandi for bars.” Outside Shanghai, Lerner says: “If you’ve been to Hangzhou and Moganshan then try Anji or the water town of Zhujiajiao.”
Where can I pick up a last-minute gift?
Tianzifang is the agreed choice. As Lerner says: “The best option from classic to modern stuff, and true art to hokey souvenirs are in the maze of Tianzifang.”
