In this episode of The Deal Scout, host Susan Reilly sits down with Alice Chen, a powerhouse private equity fund manager with a deeply unconventional path to success. From growing up in Taiwan to launching and selling multiple successful businesses in Canada, Alice shares her incredible entrepreneurial evolution—including how her experiences in pre-med, law, and international trade led her to become a fund manager specializing in U.S. land development.

Alice opens up about the roots of her entrepreneurial drive, influenced by a high-achieving banker mother and a self-taught engineer father. She reveals how she built the discipline, analytical thinking, and risk tolerance required to lead a private equity fund, and why she and her team focus on land development—a misunderstood but high-growth niche within the real estate market.

Susan and Alice also dive into what makes a successful business partnership, what to look for in potential collaborators, and the importance of stress-testing relationships before committing. Alice shares a candid story of a failed partnership that taught her the critical importance of alignment in values, work styles, and long-term vision.

You’ll also hear a behind-the-scenes look at how her firm identifies land development opportunities, partners with major homebuilders like D.R. Horton, and deploys capital into large-scale entitlement and horizontal development projects across the U.S. Alice explains their highly disciplined, data-driven due diligence process and why contrarian thinking often wins in investing.

Whether you're an aspiring fund manager, a seasoned investor, or simply curious about how raw land turns into livable communities, this episode is packed with insight, strategy, and actionable wisdom.

Interested in investing in U.S. land development or connecting with Alice? Use the links in the show notes to get in touch.

Reach out to connect with Alice or to be a guest on the show to Susan

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Disclaimer: The content shared on this podcast is for informational purposes only and should not be taken as financial, legal, or tax advice. The views and opinions expressed are those of the host, Susan Reilly, and any guests, and do not necessarily reflect the official policy or position of any agency or organization.

Susan Reilly is a licensed real estate broker, but this podcast is not a substitute for professional advice. We strongly recommend that you consult with a qualified financial advisor, legal counsel, and tax professional before making any financial decisions or taking any actions based on the information provided in this podcast.

From Law to Land: How Alice Chen Became a Powerhouse in Real Estate Private Equity

The Deal Scout

From Law to Land: How Alice Chen Became a Powerhouse in Real Estate Private Equity