Sun Hung Kai appoints Sebastiaan van den Berg as CIO

The company is an affiliate of Sun Hung Kai Properties, a local real estate developer controlled by the Kwok family. It was founded in 1969 and has owned and operated various businesses in the financial services sector. Sun Hung Kai & Co. is currently the major shareholder in consumer finance business UA Finance and a substantial shareholder in brokerage Sun Hung Kai Financial.

Hong Kong-listed Sun Hung Kai & Co. generated revenue of HK$4.17 billion ($537 million) in 2015 - roughly the same as the previous year - while net profit jumped 193% to HK$3.89 billion. The bulk of the revenue was in the form of interest income from a loan book worth HK$12.2 billion.

The principal investments business exists to generate long term returns on Sun Hung Kai & Co's liquid capital. It also seeks to create new opportunities and partnerships for the finance business. The portfolio is invested across listed equities, funds, real estate and alternatives. Its assets were valued at HK$7.59 billion as of year-end 2015, divided between principal investments, long-term investments and real estate.

While Sun Hung Kai Financial and LSS Financial Leasing account for the bulk of the HK$2.01 billion long-term portfolio, the HK$4.52 billion principal portfolio comprises hedge funds and private equity funds as well as co-investments. Direct investments include a subscription to convertible bonds issued by CMI International Holding - an investment holding company under China Minsheng Investment - and participation in the privatization of WuXi PharmaTech.

Van den Berg departed HarbourVest in late 2015 having spent 10 years with the firm. Before that, he worked for AlpInvest Partners and Goldman Sachs.

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