China Renaissance recruits ex-GA executive for PE unit
China Renaissance Group has appointed Ke Wei, formerly a managing director at General Atlantic (GA), as a partner in its private equity investment platform, known as the New Economy Fund.
Wei spent eight years at GA where he focused on investments in the technology, media and telecom (TMT) and consumer sectors. Prior to that, he worked for Actis and Boston Consulting Group.
The New Economy Fund targets growth and late-stage investments in "innovation-driven, high-growth businesses," China Renaissance said in a statement. The platform currently manages about RMB20 billion ($3 billion) in total assets across three renminbi-denominated funds and two US dollar-denominated vehicles.
Previous investments include ride-hailing app operator Didi Chuxing, outdoor advertising company Focus Media, pharmaceutical company Wuxi AppTec and online financial services provider JD Finance.
China Renaissance specializes in providing private placement advisory, M&A advisory, securities underwriting and other financial services to Chinese technology companies. With offices Beijing, Shanghai, Hong Kong and New York, the financial institution has completed more than 500 transactions with over $90 billion in total deal value.
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