Xiang (Lucy) Li, CFA, MSc.
Associate, Private Investments at Alberta Teachers' Retirement Fund Board- Claim this Profile
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English Native or bilingual proficiency
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Chinese Native or bilingual proficiency
Topline Score
Bio
Credentials
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CFA Charterholder
CFA InstituteOct, 2014- Sep, 2024
Experience
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Associate, Private Investments
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Dec 2015 - Present
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Associate, Merger & Acquisition
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Jan 2013 - Oct 2015
• Worked as part of deal teams on over 15 transactions, responsibilities ranging from financial modeling and valuation, financial analysis, industry analysis, due diligence, client and counter party communications, marketing information package preparation and more • Responsible for developing and reviewing integrated financial models to perform financial forecast and solid valuation analysis related to M&A transactions and financing transactions • Prepared and reviewed in-depth financial analysis on sell-side and financing mandates, including pro forma financial analysis, free cash flow calculation, scenario analysis, working capital analysis, equipment analysis, financing ability & option analysis, covenant testing and more • Worked directly with partners and senior managers in both merger and acquisition transactions and financing transactions focusing on western Canadian energy services industry, with transaction values ranging between $20 million to $80 million • Supported partners and senior managers in identifying and exploring potential new business by performing industry research to uncover M&A and financing target companies • Synthesized research information to be used in pitch book, modeling, competitive analysis, industry analysis, negotiation support and various other applications • Prepared various documents and presentations for client meetings, including pitch books, confidential information memorandum, and management meeting presentations • Supported transaction execution for sell side assignments. Coordinated and conducted due diligence, analyzed target company information and managed virtual data rooms • Interfaced with client management on transaction related issues. Supported the team in coaching clients and proposing appropriate approaches/analysis to transaction related issues
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Westcap Mgt. Ltd.
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Canada
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Venture Capital and Private Equity Principals
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1 - 100 Employee
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Investment Analyst
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Aug 2010 - Sep 2012
• Responsible for performing financial analysis and developing valuation models to assess potential private investments including using DCF model, Enterprise Value model, independent third party appraisals, and market comparable company/transaction information • Prepared in-depth analysis on buy-side mandates for senior investment managers, including leverage assumptions, coverage assumptions, acquisition multiples, exit multiples, pro forma financial analysis, free cash flow calculation, NPV/IRR calculation, depreciation schedule, ratio analysis, projected capital structure analysis, and ownership structure analysis • Responsible for performing due diligence for potential private investments including conducting market research to assess market potential, viability of new technology, competition and competitive advantage of potential investee companies; participating on conference call and on-site visit with potential investee companies; preparing investment memorandums to the investment board • Performed financial analysis to vet financial information provided by potential investee companies and developing working models to assess the financial risk and return of investment opportunities and different investment structures, including forecasting cash flow generation and debt servicing abilities • Generated semi-annual portfolio management reports to valuation committee and conducted performance analysis of investee companies, monitored investments by preparing semi-annual financial analysis, semi-annual operation review, and semi-annual valuation • Researched industry development and venture capital activities in healthcare/life science, clean energy and Saskatchewan natural resources sectors and prepared internal briefing papers to the senior management team and investment board
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Education
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CFA Institute
Charterholder -
University of Saskatchewan
Master of Science (M.Sc.), Finance -
Renmin University of China
B.A, Economics