
Serena Shi
AT A GLANCE
Since joining the firm in 2019, Serena has advised on more than 60 M&A transactions involving fairness opinions, serving public companies and leading institutional private equity clients, including Carlyle Group, Centurium Capital, KKR, CITIC Capital, and Hongshan Group (formerly known as Sequoia Capital China).
Prior to joining Kroll, Serena was an associate director in the financial and executive risk business at Willis Towers Watson. She oversaw the firm's overall mainland China operations, with a focus on deal origination and execution, and secured the No. 1 market share in D&O insurance brokerage for US IPOs of Chinese companies. Previously, Serena served as investor relations director at AutoNavi Holdings Limited, where she played a pivotal role in the company's IPO process and managed ongoing interactions with major institutional investors and sell-side research analysts. Over the years, Serena has successfully originated and executed transactions for more than 60 US IPO clients in China, with notable accounts including Tencent Music (NYSE: TME), Bilibili.com (NASDAQ: BILI), and New Oriental Education (NYSE:EDU). Earlier in her career, Serena worked at Siemens, Ltd. and Ernst & Young.
She holds a master's of finance and investment and a bachelor's of finance, accounting and management from the University of Nottingham, UK.
Notable Recent Transactions
Related-party transaction for JD.com. | Going-private transaction for DADA Group. |
Going-private transaction for Zeekr. | Going-private transaction for Sogou. |
Related-party transaction for Bilibili. | Going-private transaction for 51Job. |
Related-party transaction for Tim Hortons China. | Related-party transaction for Luckin Coffee. |
Related-party transaction for 51Talk. | Related-party transaction for Zhangmen Education. |
Going-private transaction for BLUECITY | Going-private transaction for Zhangmen Education. |
Going-private transaction for Energy Monster. | Related-party transaction for KKR’s continuation fund. |
Related-party transaction for CITIC Capital. | Related-party transaction for Xunlei. |
Going-private transaction for Bright Scholar. | Related-party transaction for UP Fintech. |
Related-party transaction for GreenTree Hospitality Group. | Going-private transaction for Cloopen. |
Related-party transaction for I-MAB. | Related-party transaction for SAIHEAT Limited. |
Going-private transaction for LakeShore Biopharma. | Related-party transaction for GigaMedia. |
Related-party transaction for Leoch International Technology Limited. | Going-private transaction for New Frontier Health |
Related-party transaction for Canaan Inc. | Going-private transaction for Secoo. |
Related-party transaction for HomesToLife. | Going-private transaction for Ruhnn. |
Going-private transaction for BEST Inc. | Related-party transaction for Yiren Digital. |
Related-party transaction for Tarena. | Going-private transaction for Yintech. |
Going-private transaction for Tarena. | Going-private transaction for China Distance Education. |
Related-party transaction for Baijiayun Group. | Going-private transaction for China XD. |
Going-private transaction for GENETRON. | Going-private transaction for Jinzheng Eco-Technology. |
Going-private transaction for Hailiang Education | Going-private transaction for Acorn International. |
Related-party transaction for AIRNET | Going-private transaction for BitAuto. |
Going-private transaction for China Zenix Auto International. |
Kroll Named 2025 Global Leader in Fairness Opinions
Kroll continues to set the standard among independent financial advisors with its market-leading Transaction Opinions practice. Over the 20 years that the team has maintained its leadership position, Kroll has rendered over 1,500 fairness opinions worldwide, covering transactions with an aggregate deal value exceeding $1 trillion.

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