Private equity firm Unitas Capital, the former CCMP Capital Asia, has hired a new partner, Ajeet Singh, to be based in Hong Kong.

Singh, who has a background in running an industrial business, will focus on identifying investment opportunities and supporting UnitasÆs portfolio of industrial companies.

Singh has 27 years of experience working with Emerson, a diversified global manufacturing and technology company. His most recent role, which he held for eight years, was president, Asia-Pacific, for Emerson Network Power, a $1.5 billion business in the region. Singh has also been president, Asia-Pacific, for Emerson Climate Technologies, as well as president for all of EmersonÆs businesses throughout Asia-Pacific.

Unitas last month raised $1.2 billion, primarily from international institutional investors, for its Asia Opportunity Fund III, the firmÆs third buyout fund. Investors include Goldman Sachs Private Equity Partners Asia, Ohio Public EmployeesÆ Retirement System, Ontario Teachers, Pantheon Ventures, Partners Group, SEB, State of Michigan Retirement System, the State of Oregon and Washington State Investment Board.

Unitas currently has around $4 billion in capital commitments under management. Since it was founded in 1999, the firm has specialised in investments in the consumer and retail, industrial manufacturing and services sectors in the Asia-Pacific region. Some of the buyouts Unitas has led include: Mando Corporation, Haitai Confectionery and Buy The Way in Korea; Yellow Pages in Singapore; Rhythm Corp in Japan; and Waco and Repco in Australia.

CCMP Capital Asia will be renamed Unitas Capital when its affiliation with CCMP Capital Advisors LLC ends later this month.

ôHaving recently closed our third fund, Unitas is well positioned to take advantage of the attractive investment opportunities arising out of the current financial crisis, and Singh will play an integral role in our investment process,ö says Andrew Liu, UnitasÆ managing partner and CEO, in a written statement.