Jonathan Zhu ’92, partner and co-head of Asia Private Equity at Bain Capital, a leading global private investment firm, delivered an insightful lecture on corporate governance in China as part of the Dean’s Distinguished Lecture Series. Held on September 12 in the MacDonald Moot Court Room, the event highlighted Zhu’s deep expertise and provided attendees with an understanding of the evolution of corporate governance in China through the lens of a seasoned practitioner.

In his lecture, Zhu explored key turning points in China’s economic development, beginning with the seismic reforms of 1978, which marked the country’s shift toward opening its borders to foreign investment. Zhu described the Joint Venture Law of 1979 as a crucial step that paved the way for economic growth, setting the stage for the emergence of private businesses in China.

Before 1978, there was no private business in China, and “We were living on rations; the economy overall was on the brink of collapse,” Zhu recounted. He emphasized how China’s evolving legal landscape—including the Companies Law of 1994—enabled the establishment of management and supervisory boards, helping regulate the rapidly expanding corporate sector.

Drawing from his extensive experience at Bain Capital, Zhu provided a detailed account of the firm’s investment strategies, particularly its focus on turning around failing companies. One notable example he discussed was Bain Capital’s acquisition of Chindata Group in 2019, which, after a subsequent merger with Bridge Data Centres, experienced significant growth in the data infrastructure sector.

Before joining Bain Capital in 2006, Zhu had a distinguished career in investment banking at Morgan Stanley and practiced law at Shearman & Sterling. His multifaceted career has allowed him to guide numerous companies through the complex regulatory environment in China, leveraging his legal acumen and business expertise.

A proud Cornell alumnus, Zhu began his journey at the College of Arts and Sciences where he was pursuing a Ph.D. in English literature before deciding to transition to Cornell Law School. His ties to the university run deep—his wife, Ruby, earned a Ph.D. in Biochemistry and Chemistry, and both of their children are Cornell graduates. Zhu has maintained a strong connection with the institution through his roles as a Law School Advisory Council member and Trustee Emeritus of the Cornell University Board of Trustees.

Through his lecture, Zhu offered invaluable insights into the intersection of law, business, and corporate governance in one of the world’s most dynamic economies. His personal reflections on the challenges and opportunities of working in China provided attendees with a rare glimpse into the practical realities of corporate law in an international context.