Affinity adds to China team
Affinity Equity Partners has recruited Sam Sun, previously a partner at Sequoia Capital, as a managing director based in Beijing.
Sun – who referenced his new role on his LinkedIn profile – spent more than two years with Sequoia. Before that, he was a managing director and then a partner at China-focused cross-border private equity firm AGIC Capital. Sun has also worked for CITIC Capital and Hony Capital.
Affinity is currently deploying its fifth pan-Asian fund, which closed at $6 billion at the end of 2017.
Recent activity in China includes the purchase of a minority stake in Aland, a producer of multivitamins and nutritional supplements. While the company has its own brands, it is said to be the world's leading original design manufacturer (ODM) in the nutritional supplements space, supplying the likes of Walmart, Walgreens, and GNC. Most of Aland's sales are in the US.
Separately, last month Yock Siong "Song" Tee departed Affinity to become head of Southeast Asia at L Catterton. Tee spent eight years at Affinity, also covering the Southeast Asia market.
More on Greater China
Latest News
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...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.