Firm Poised to Deploy US$100M to US$200M Over the Next 12-18 Months
HONG KONG, Jan. 5, 2012 /PRNewswire-Asia/ -- NewQuest Capital Partners, a Hong Kong-based private equity firm focused on growth markets across the Asia Pacific region, has announced the recent appointment of Lung-Chi Lee as General Counsel, completing the build-out of the firm's leadership team. In addition, NewQuest announced that it plans to deploy between US$100 to US$200 million over the next 12-18 months to acquire portfolios of direct private equity positions in Asia from investors seeking liquidity solutions.
Mr. Lee will assist NewQuest in further developing its platform in the region with a focus on new deals, investment structuring, divestments, corporate governance, compliance and other general fund-related matters.
Darren Massara, Managing Partner at NewQuest commented, "Lung-Chi is an experienced industry veteran who brings to NewQuest valuable knowledge and insight which will assist the firm as we further establish our direct secondary strategy for the region. The recent appointment of Lung-Chi, together with other key professionals in the past nine months, ensures that NewQuest is well-positioned to deploy capital to help existing PE investors monetize their positions, secure liquidity, and achieve their strategic objectives."
"I am very excited to join such a strong team with a truly unique investment strategy," said Mr. Lee. "The opportunity in Asia for a direct secondary strategy is significant and has been largely untapped to date. The NewQuest team has the skills, talent and expertise to execute this strategy."
Mr. Lee brings more than 10 years of private equity, M&A and litigation expertise to NewQuest. Mr. Lee was most recently General Counsel for Private Equity and Head of Legal for M&A with GE Capital for the Asia Pacific Region, based in Hong Kong. Prior to GE Capital, Mr. Lee practiced law in Shanghai, Hong Kong, and San Francisco with Paul, Hastings, Janofsky & Walker LLP and Perkins Coie LLP. Mr. Lee received his law degree from Boalt Hall School of Law, University of California, Berkeley and a BA from University of California, Los Angeles (UCLA).
About NewQuest Capital Partners
NewQuest Capital Partners is a Hong Kong-based private equity advisory firm focused on growth markets across the Asia Pacific region, particularly Greater China and India. The firm was established in 2011 from the spin out of Bank of America Merrill Lynch's Asian Private Equity team and a portfolio acquisition of over 20 private equity investments. The NewQuest team has extensive experience in sourcing, executing, managing, and divesting private equity and special situation stakes across Asia and has established itself as the region's first dedicated direct secondary platform, managing a fund with initial capital commitments of approximately US$400 million. For more information, please visit www.nqcap.com.
