Ex-Blue Pool partner targets $200m fundraise
Danny Lee, formerly head of global private equity at Blue Pool Capital, the family office of Alibaba Group co-founder Joe Tsai, has established his own firm and is looking to raise a USD 200m fund.
Lee established VCA Capital last year after leaving his full-time position at Blue Pool and transitioning to a senior advisor role, which he still holds. Lee told Bloomberg that he hopes to reach the USD 200m mark in the next 12-24 months and would build out his investment team – which currently numbers three, all based in Hong Kong – along the way.
High net worth individuals, including Chinese who want to diversify their holdings, are among VCA’s target LPs. Lee said he is working with a broad group of investors across technology, real estate, media, and finance, who want to put more capital to work overseas.
As for investments, he favours “boring” businesses with strong cash flow and profit margins. “In 1998, when I started investing, you could invest in any manufacturing export business with your eyes closed and they’d be growing at 30%,” he said. “Those days are over.”
Lee began his career with Investor AB, a Swedish investment and holding company controlled by the Wallenberg family. This was where he first worked alongside Tsai. After seven years, Lee moved to Bain Capital, working out of Hong Kong and Shanghai. He was recruited by Blue Pool in 2015.
Blue Pool is a multi-strategy global investment firm with exposure to all major asset classes, including public and private equity and real estate.
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