AVCJ

Hong Kong-based Martin Mok moves on from CVC

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Martin Mok, a senior managing director with CVC Capital Partners in Hong Kong, has left the firm just over a year after his arrival from EQT.

AVCJ was informed of the departure by a source close to the situation. Mok (pictured) declined to comment.

Mok was part of the Goldman Sachs Principal Investment Area team, responsible for making investments in China, before joining EQT in 2001. He rose to the level of partner and head of Asia mid-market coverage, focusing on control and co-control deals across the region.

EQT closed a pan-Asian middle-market fund in 2018 on USD 800m and went on to make more than a dozen investments. The most recent of these – announced in March – was the acquisition of a majority stake in Guardian Hygiene Service, China's largest domestic pest control company.

However, Mok's exit from EQT in late 2020 coincided with a change in the firm's Asia strategy to focus on large-cap deals. Several new hires were made before a EUR 6.8bn (USD 7.5bn) acquisition of Baring Private Equity Asia (BPEA) was agreed upon earlier this year.

CVC is an established player in Asia's large-cap space, typically targeting control, co-control, and structured minority investments with enterprise values of USD 250m to USD 1.5bn. The firm is looking to raise at least USD 6bn for its sixth pan-regional fund.

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