Hong Kong

Private equity and venture capital news from Hong Kong

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• CCB International to launch $1bn private equity fund in Hong Kong 09 Dec 2009. Source: AltAssets. CCB International, the investment arm of China Construction Bank, is nearing the launch of a $1bn private equity fund in Hong Kong that will invest in financial institutions, Reuters reports.

• Carlyle’s China Pacific Insurance lines up HK$28bn share sale 07 Dec 2009. Source: AltAssets. China Pacific Insurance, the country’s third largest life insurer and which is part-owned by buy-out house Carlyle, plans to raise around HK$28bn ($3.6bn) from a Hong Kong initial public offering, according to Reuters.

• Spring Capital Asia holds first close on $151m 30 Nov 2009. Source: AltAssets. Spring Capital Asia, a private equity firm investing exclusively in China and Hong Kong, has held the first closing of Spring Capital Asia Fund on $151m. The vehicle is targeting $200m to $250m.

• Chepstow Capital expands team with HSBC and CLSA appointments 11 Nov 2009. Source: AltAssets. Newly launched Hong Kong private equity firm Chepstow Capital has expanded its team with three new appointments, according to reports.

• Apax Partners Asia loses chairman 06 Nov 2009. Source: AltAssets. Apax Partners Asia chairman Max Burger-Calderon has retired and will now serve as part-time non-executive chairman, according to Dow Jones. No one is taking up his full-time chairman role at the company.

• Former Deutsche Bankers launch investment bank specialising in Asian distressed and illiquid investments 09 Oct 2009. Source: AltAssets. SC Lowy Financial Services, a new investment bank headed by ex-members of Deutsche Bank’s Asian distressed assets division, has commenced operations in Hong Kong, focusing on Asian distressed and illiquid investments.

• Pacific Century Group acquires stake in AIG’s asset management arm 07 Sep 2009. Source: AltAssets. Investment company Pacific Century Group has acquired a stake in American International Group Inc's asset-management business, according to reports.

• Law firm Ropes & Gray hires partner for Hong Kong private investment group 03 Sep 2009. Source: AltAssets. Global law firm Ropes & Gray has hired Michael Guilday as a partner in the firm’s Hong Kong office. Guilday will be a member of the firm’s private investment funds and hedge funds practice groups.

• Abax Capital to set up private equity fund in China 24 Aug 2009. Source: AltAssets. Hong Kong’s Abax Global Capital, a hedge fund manager backed by Morgan Stanley, plans to launch a private equity fund in China, according to a Bloomberg report. The fund will focus on investments in companies creating environmentally friendly products.

• Hong Kong private equity firm seeking Wall Street bank purchase to expand operations 24 Aug 2009. Source: AltAssets. First Eastern Investment Group, a Hong-Kong based private equity firm, plans to invest in a Wall Street bank as it looks to build a presence in major global financial hubs, according to a report by Reuters.

• ADM Capital seeks €300m for recovery fund 11 Aug 2009. Source: AltAssets. ADM Capital is seeking €300m for its recovery fund focusing on Central and Eastern Europe, Central Asia and Turkey (CEECAT).

• Asia-focused private equity firm MBK Partners closes second fund on $1.6bn 20 Jul 2009. Source: AltAssets. Asia-focused private equity firm MBK Partners has closed its second fund on $1.6bn, according to reports. The fund had an initial target of up to $3bn.

• Quam and Suzhou High-Tech Venture Capital Group create $117m fund 27 May 2009. Source: AltAssets. Hong Kong-based financial services firm Quam has signed a letter of intent to establish a RMB800m ($117.1m) joint venture capital fund with China’s state-owned Suzhou High-Tech Venture Capital Group.

• Private equity funds of funds investor Pantheon expands Asia team 14 May 2009. Source: AltAssets. Pantheon, the global private equity funds of funds investor, has bolstered its Asian team with the addition of Brian Lim as a principal to its Hong Kong office. This brings the firm’s Asia-based investment team to eight professionals.

• Hong Kong firm to raise $300m private equity fund 06 May 2009. Guoyuan Asset Management, a Hong Kong-based subsidiary of Chinese firm Guoyuan Securities, intends to raise a $300m private equity fund, according to reports.

• Citigroup exec sets up $1bn Asian financial firm 30 Apr 2009. Citigroup's former chief of Asian institutional banking will lead a new $1bn financial firm with ex-colleagues, according to a report by Reuters.

• Yorkville Advisors launches Asia Pacific head office in Hong Kong 23 Apr 2009. Yorkville Advisors, a US-based investment firm, has launched an Asia Pacific head office in Hong Kong. The firm has a broad mandate, investing in both public and private companies.

• Pomona hires three private equity professionals 29 Oct 2008. Source: AltAssets. Private equity firm Pomona Capital has appointed Jordan Robinson as a managing director, Gregory Walters as a principal and Haijoung Kim as a vice president.

• Quadrangle opens Hong Kong office 25 Sep 2008. Source: AltAssets. Quadrangle Group, focused on the media and communications sector, has opened a new office in Hong Kong. Edward Sippel, a managing principal of Quadrangle who has been based in New York, will head the Asian office.

• American Capital opens Hong Kong office 24 Sep 2008. Source: AltAssets. American Capital has expanded the firm's operations in Asia with the establishment of the firm's first Asian office, in Hong Kong. The initial focus of the expansion will be to identify and support opportunities throughout Asia for its existing portfolio companies in the US and Europe and to build relationships with local institutional investors, according to the firm.

• Providence Equity Partners hires Sean Tong to Hong Kong office 16 Sep 2008. Source: AltAssets. Media and communications-focused private equity firm Providence Equity Partners has appointed Sean Tong to the firm's Hong Kong office as a managing director.

• Riverside opens Hong Kong office, hires Brian Bunker 09 Sep 2008. Source: AltAssets. The Riverside Company has opened an office in Hong Kong, to be led by former president of Danaher China Brian Bunker, who has been appointed as managing director. The Hong Kong office is Riverside's third in Asia, following the establishment of the Tokyo and Seoul offices, in April and October 2007, respectively.

• Pantheon hires three in Asia 04 Sep 2008. Source: AltAssets. Private equity fund of funds investor Pantheon Ventures has hired three professionals for its primary investment team in Hong Kong. Alex Wilmerding has been appointed as a principal, Minjun Chung as an associate and Leah Liu as an analyst.