John Riady is the grandson of Mochtar Riady. The family controls the Lippo Group, which manages companies in property, healthcare, financial services, retail, technology and education in Asia. Its investors include GIC and Temasek, the Singapore state investment funds, Mitsui; Khazanah, the Malaysian Sovereign Wealth fund; and CVC Capital Partners, a private equity firm which tripled its money in three years by working with Lippo on the buyout of their Matahari department store chain