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Boyu co-founder Mary Ma dies at 66

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Mary Ma, the long-serving Lenovo Group executive who forged a second career in private equity with TPG Capital and Boyu Capital, has died aged 66.

Hong Kong Exchanges & Clearing, which appointed Ma to its board in April as a non-executive director and member of several committees, expressed its condolences in a statement.

Ma was also an independent director at Lenovo. It released a statement acknowledging her contribution to the company she joined in 1990 as an executive director. Ma rose through the ranks to CFO – playing a key role in the acquisition and subsequent integration of the IBM personal computer division – before retiring in 2007.

Ma then spent about four years with TPG before joining Boyu on its establishment in 2011. She joined a leadership team comprising Louis Cheng, previously an executive director at Ping An Insurance, Sean Tong, formerly of Providence Equity Partners, and Alvin Jiang, grandson of former Chinese president Jiang Zemin. The firm closed its fourth fund earlier this year at $3.6 billion.

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