The emerging markets specialist appoints Chester Fong as Senior Advisor and Angus Or as Director of Operations
BEIJING and LONDON, Sept. 29, 2011 /PRNewswire-Asia/ --Actis, a leading private equity investor in emerging markets, today announced two senior appointments to its Beijing based team.
Chester Fong will take up a role as Senior Advisor to the Consumer team. Angus Or has joined Actis as a Director in its Value Creation Group, working with Actis portfolio companies across Asia to add value by driving strategic and operational improvements.
Actis’s Head of China and Southeast Asia, Meng Ann Lim said: "There is a pressing need for differentiated capital in China. Over the years we have developed a reputation for working with talented entrepreneurs to extract further value from their businesses. The appointment of Chester and Angus marks a significant enhancement to our value addition capabilities within this market."
Chester Fong is the newest member of a growing network of Senior Advisers that Actis is building across the regions and industries where it operates. These advisers provide enhanced sector knowledge and industry networks, strengthening Actis’s credentials as an expert private equity investor within its six chosen sectors: Business Services, Consumer, Energy, Financial Services, Industrials and Real Estate. Senior Advisers work closely with Actis to assist its professionals in sourcing and executing investments, managing their portfolios and helping companies perform more effectively.
Chester brings rich expertise in the fast moving consumer goods sector, after more than 30 years with Colgate-Palmolive, where he has been in country general management and senior financial roles overseeing both developed and emerging markets. He is currently based out of Hong Kong, as Vice President, Finance & Strategic Planning for Greater Asia, heading the group’s financial function and driving M&A initiatives for Asia and Eurasia. Chester is also the Chairman of Colgate's Greater China business. He will continue with this role alongside the counsel he provides to the Actis team. Actis sees great opportunity in the consumer space in China. Its current investments include hot pot chain, Xiabu Xiabu; economy hotel provider, 7 Days Inn; and education specialist, Ambow, amongst others. Using his sector knowledge and extensive contacts in Asia, Chester will provide crucial support to the China-based team.
Chester Fong said: "I am excited to be joining Actis as a member of its advisory team. Actis has developed an impressive track record in the consumer sector and a strong reputation in Asia, which will undoubtedly place the firm in prime position to tap the tremendous potential of the emerging markets. I look forward to working closely with Meng Ann and the rest of the Actis family, leveraging my knowledge and experiences in support of its aims."
Angus Or will be an integral member of the Value Creation Group which supports the Actis deal teams by identifying areas of potential improvement in prospective investments - for example, accelerating sales growth, margin improvement, increasing efficiency, or making and integrating acquisitions. Once the investment is made, the Value Creation specialists work alongside management to achieve those improvements, so that the value of each business is maximised.
Angus brings to Actis more than 18 years of experience in the food and beverage FMCG sector in China, gained at multinationals including Heinz, Yeos and Fonterra. He joins Actis from Heinz China where he was President, and Managing Director of Heinz LongFong, where he oversaw the post-acquisition merger.
Prior to Heinz, Angus was General Manager of Watsons Sparkling Water Company, General Manager of Yeos China, after spending eight years with the consumer division of Fonterra China.
Angus Or said: "I am very pleased to be working at Actis and am inspired by the difference we make every day in our markets. The Value Creation Group adds very significant value to the Actis portfolio: reflecting the firm's broader positive power of capital ethos and our commitment to bring more than capital to our investments."
About Actis
Actis invests exclusively in the emerging markets with a growing portfolio of investments in Asia, Africa and Latin America; it currently has US$4.6bn funds under management. With over 100 investment professionals on the ground in nine offices worldwide, Actis is proud to actively and positively grow the value of those companies in which it invests.
Contact
Hwee Chuin Ang
Email: hcang@act.is
Phone: +86-10-6535-4805
Claire Davies
Email: cdavies@act.is
Phone: +44-207-234-5115
