What is the relationship between resume and private in the context of the input sentence. Choose an answer from: product/material produced; manufacturer; distributed by; industry; position held; original broadcaster; owned by; founded by; distribution format; headquarters location; stock exchange; currency; parent organization; chief executive officer; director/manager; owner of; operator; member of; employer; chairperson; platform; subsidiary; legal form; publisher; developer; brand; business division; location of formation; creator.

If and when IPOs resume in China, debutants could get better treatment on the domestic market then they do overseas, said Mingchen Xia, a principal in Hong Kong for private equity asset management firm Hamilton Lane Advisors LLC.

Answer: owned_by