The Hong Kong-based fund house has promoted internally to fill the role, amid an ongoing management reshuffle.
Distressed asset investment activity is set to grow in Asia, with private equity playing a more important role in providing finance and hands-on restructuring.
Having the right fee model is key, among other things, says Philippe Legrand, CEO of London & Capital Asia.
Mainland insurance firms expect to be able to make overseas investments again as early as September and are particularly keen on private equity funds, says a consultant.
Such products are not transparent and saddle the buyer with most of the risk, says Philip York of trading firm Alt224, who argues for a ban.
The funds will target distressed assets in India and other Asian special situations and credit assets, says a source, amid rising demand for private debt.