Low Kah-Fai, Tommy Yip eye January firm launch
Low Kah-Fai and Tommy Yip have confirmed they will launch a Hong Kong-based fund of private equity funds investment firm in January.
Both Low and Yip’s present employers – Singapore-based Eagle Asia Partners and Hong Kong-based Emerald Capital Hill Partners, respectively – declined to comment on who is replacing them in their respective roles as executive director and head of North Asia.
AsianInvestor could not ascertain when Low and Yip would leave the firms.
Yip said the new firm would invest primarily in new economy focused PE funds (TMT and health care) and market a fund of PE funds vehicle.
The firm will look to private equity funds in China and the rest of Asia, with a focus on cross-border investors within the region.
Low is a founding member of Eagle Asia Partners, which began operations in 2007 and where he was responsible for sourcing, due diligence and execution.
Before that, from 2000 he was in charge of fund investment in China, India and North America at TIF Ventures, based in Singapore.
Yip joined Emerald Hill Capital Partners in November 2005 as a partner. Before that he worked from May 1998 at Asian Venture Capital Journal.
Pictet & Cie adds board director
Pictet Group has announced the appointment of Koh Boon Hwee as an independent board director of Bank Pictet & Cie, the group’s private banking entity based in Singapore.
Koh, who joined in September, advises and provides guidance to the wealth management team and the bank’s board as well as Pictet’s managing partners.
He has held prominent positions with several Singaporean companies.
From 2006 to 2010 he was chairman of DBS Bank, from 2001 to 2005 chairman of Singapore Airlines and from 1986 to 2001 chairman of SingTel.
Headed by Anuj Khanna, chief executive and head of south Asia, Pictet WM’s wealth team comprises 40 bankers across Hong Kong and Singapore.
Bank Pictet & Cie secured a merchant bank licence in Singapore in 2004. In April 2012, it received a banking licence from the Hong Kong Monetary Authority, allowing it to book client assets in the city. And in December 2012 it also finalised an RMB licence, meaning it can book RMB assets and offer remittances.
Louvre Fiduciary names private wealth head
Cally Ching has joined Louvre Fiduciary as head of private wealth for China and Hong Kong, effective October 28.
Based in Hong Kong, Ching is responsible for the operations of the Hong Kong office and the organisation’s expansion plans for the region.
The firm provides fiduciary and corporate services to private and corporate clients.
Ching arrives from Intertrust Group in Hong Kong, which she joined in 1998 and where she was most recently a director overseeing businesses and investments into and out of China.
There she worked with corporate and individual clients to develop one-stop solutions and new products and services for Chinese nationals.
A spokeswoman said that demand was growing from banks, fund managers and legal advisers to establish Asian-focused investment funds.
Wiser Capital Management set to open
Set up in March this year, alternative investment firm Wiser Capital Management officially opens on December 17.
The firm focuses on creating value by acquiring stakes in Hong Kong-listed companies and restructuring them. It has started fund-raising for its first private equity vehicle based on this strategy, but did not provide further details.
Wiser Capital Management’s investments are in education, health care, hospitality, financial services, real estate, technology and the media.
On November 25, the firm acquired a controlling stake in Kong Shum Union Property Management and is formulating a restructuring plan.
Timothy Shen is chief executive and Vivien Lai is chief operating officer.
Previously Shen worked as chief executive of Universal Holdings, chief financial officer of Fortune Oil and assistant general manager of China Merchants Holdings International.
VAM Group fills new marketing role
VAM Group has appointed Stephen Kevan to the newly created role of group marketing director, effective from November 27.
The Mauritius-based role was created to provide a more strategic approach to marketing across the group’s VAM Funds and its Mauritius Administration and Trust Company (Matco) subsidiaries.
Before the creation of the group role, marketing functions were undertaken by each subsidiary.
The firm is looking to focus more on partnering multi-family offices, discretionary and fund of fund managers and wealth managers, said Kevan.
Matco provides wealth management solutions to clients based primarily in Asia and Africa.
VAM Funds’ AUM is $650 million. Its Luxembourg Ucits IV fund range is marketed to high-net-worth individuals in Europe, Asia, the Middle East and Africa.
VAM Funds’ range includes Ucits versions of funds managed by Driehaus Capital Management, EIP Alpha, Fleming Family & Partners, Newscape Capital Group, VPB Finance and Opportunité.
Kevan joined VAM Group from NinetyEast Financial – a Mauritius-based offshore fiduciary, corporate services and fund administration company – where he was chief marketing officer.
He has previously held marketing roles with Barclays Wealth and Old Mutual International.
Other moves reported on AsianInvestor.net this week: