AVCJ

Warburg Pincus' China head to form own firm

  • LinkedIn  
  • Google plus  
  • Save this article  

David Li, managing director and head of China at Warburg Pincus, has resigned to set up his own company. Julian Cheng and Frank Wei have duly been appointed to lead Warburg Pincus’ China business.

A statement from the PE firm offered no further details on Li's next move. He has been with Warburg Pincus for 14 years, having previously worked in investment banking at Goldman Sachs and Morgan Stanley in Hong Kong. Li will continue to support Warburg Pincus in various portfolio company matters.

Cheng has been with the firm since 2000 and leads the China technology, media and telecom (TMT) group, which has invested in the likes of mobile shopping portal Koudai, online used car auction company Uxin, and classifieds site 58.com. Before joining Warburg Pincus, Cheng was an investment banker in Hong Kong with Salomon Smith Barney and Deutsche Bank.

Shanghai-based Wei is responsible for healthcare and consumer investments in China. He is a director of maternity and children's goods retailer Kidswant, AAG Energy and logistics businesses ZTO Express and ANE Logistics. Wei joined Warburg Pincus in 2002 after stints with Morgan Stanley and McKinsey & Company.

Warburg Pincus' China investment team comprises 11 partners and 35 investment professionals. Since 1994, the firm has invested more than $5.5 billion in over 90 Chinese companies.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on People

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs