PrivateEquityChina

KKR Hires Liu From Morgan Stanley to Lead China Private Equity

Kohlberg Kravis Roberts & Co., which is raising more than $10 billion for a new buyout fund, hired David Liu, the former co-head of Morgan Stanley's Asian private- equity unit, to lead its investment activities in China.

Liu will be based in Hong Kong, where he worked for Morgan Stanley, KKR said today in a statement. The New York-based firm in October named Deryck Maughan, former vice chairman of Citigroup, to oversee its expansion in Asia.

Liu ``is one of the most experienced private-equity investors in China with a terrific track record of identifying and investing in the emerging industry leaders,'' George Roberts, a KKR cofounder, said in the statement. '

H & Q Asia Pacific Raises US$500M for North Asia

H&Q Asia Pacific ("H&QAP") has raised $500 million for the north Asian region through its latest funds, Asia Pacific Growth Fund V, L.P. ("APGF V"), and H&Q-NPS Fund I. APGF V will generally invest in the North Asian markets of Japan, South Korea, and Greater China in later stage and larger-sized deals where it has either control or significant influence, while H&Q-NPS Fund I will adopt the same strategy focused solely on Korea.

Since its inception, H&QAP has managed 19 funds with an aggregate of $2.1 billion in committed capital. With the firm's recent successful exits in China (Amperex Technology Ltd.) and in Japan (GDH, formerly Gonzo Digimation Holding), APGF V builds on the success and experienced gained from prior H&QAP regional funds and leverages the firm's platform and seven-office network in the Asia Pacific region.

"With the proliferation of Asian funds in the market, we are appreciative of the support and confidence that our limited partners have vested in H&Q Asia Pacific, and we will work hard to deliver returns," said Dr. Ta-lin Hsu, founder and Chairman of H&Q Asia Pacific. "We are very excited about the investment opportunities across the Asian landscape and believe that we are well-positioned to take advantage of these opportunities," Dr. Hsu added.

Sierra Invests in Gobi

U.S. fund Sierra Ventures has partnered with Shanghai-based Gobi Ventures to do early-stage deals in the Middle Kingdom.

Sierra Ventures

• a Silicon Valley venture firm with $1.1 billion in committed capital
• invested in Gobi Ventures - the first time its invested as a limited partner in another fund
• was seeking a partner in China to enable it to invest in early stage investments

Gobi Partners

• a Shanghai-based venture capital firm focused on early-stage technology companies
• fund expanded to $50 million following the Sierra investment
• Co-investors were International Business Machines, NTT DoCoMo, and The McGraw-Hill Companies
• fund's focus is information technology, internet, wireless, and digital media companies
• founded in 2002 by Wai Kit Lau, Thomas G. Tsao, and Lawrence Tse
• portfolio companies include Digital Media Group, which operates digital media networks in China’s subway systems, and Lingtu, a digital-mapping and location-based services provider.

H&Q Asia to Expand China Investment to $600 million

 

H&Q Asia Pacific Ltd., a private equity firm, will double its investments in

China

to $600 million in three to five years, The Standard reported, citing Hsu Ta-lin, the founder and chief executive of H&Q.

 

H&Q is raising more money to invest in

China

's technology sector, financial companies and branded consumer business, the paper said. The private equity firm manages $2.1 billion of funds, the paper said.

 

The private equity firm in 1998 helped bring Starbucks into China, where the global coffee chain now has about 140 stores. H&Q also invested in Semiconductor Manufacturing International Corp.,

China

's top chipmaker, the paper said.