CDH Investments (CDH, 鼎晖投资基金管理公司) is a major Chinese alternative asset management firm based in Beijing, China. It specializes in private equity, venture capital and credit products. CDH invests across a range of sectors and regions. As of March 2015, CDH manages over RMB 100 billion of investor capital across its various investment platforms.

Founded in 2002, CDH is a diversified alternative asset manager covering private equity, venture capital, mezzanine, real estate, and wealth management. Its investor base includes sovereign wealth funds, pension funds, insurers, endowments, family offices and fund of funds from China, North & South America, Europe, Middle East, Australia and Asia.

CDH is headquartered at Fortune Financial Center, 5 Dongsanhuan Central Road, Beijing, China, with additional offices in Shanghai, Shenzhen, Hong Kong, Singapore, and Jakarta.

In 1992, Wu Shangzhi, then Senior Investment Officer at the World Bank Group's Direct Investment Division, decided to establish an investment firm in China. He approached GIC with a fund raising proposal. Instead of considering an equity commitment, GIC suggested Wu to join China International Capital Corporation, an investment bank that GIC was involved in the preparatory work related to the firm's establishment at that point. Wu led the direct investment business at China International Capital Corporation until it was split off by the firm in 2001, when China Securities Regulatory Commission prohibited investment bank from doing private equity investment.

In 2002, CDH was established with six founding partners including Wu Shangzhi and Jiao Zhen, who had worked together at China International Capital Corporation's Direct Investment Division since 1995. Other shareholders include GIC, China National Investment & Guaranty Co Ltd, and Capital Z Partners. As of 2014, CDH had retained all six founding partners within the firm, despite famously losing its head of venture capital, Wang Gongquan, who ran away with his mistress.

In 2003, CDH raised $102 million for its first standalone fund. Deals that year included stakes in sportswear company Li-Ning, display advertising firm Focus Media and Mengniu Dairy. According to Reuters, this first fund returned approximately 3.5 times its investors' money.

In 2006, CDH and Goldman Sachs invested $256 million in a controlling stake in a struggling meat producer, then known as Shuanghui Group, along with Temasek and New Horizon Capital. That buyout deal, one of the first of its kind in China, sparked controversy as opponents claimed the country was selling assets too cheaply to foreign investors. Goldman sold half its stake back to CDH in 2009 for five times what it originally paid.

CDH institutional investors have included California Public Employees' Retirement System, the Oregon State Treasury, the Texas County & District Retirement System, and Canada Pension Plan Investment Board. As of 2014, 75 percent of CDH's private equity funds came from international investors. That year, with a target cap at $2 billion, CDH's fifth USD PE fund was closed at a hard cap of $2.5 billion due to over-subscription.