Healthcare specialist CBC adds managing director
Asia healthcare investor CBC Group has appointed Billy Cho, formerly CFO of listed Chinese drug developer Zai Lab, as a senior managing director for private equity.
Prior to joining Zai Lab in 2018, Cho (pictured) spent nearly seven years at Citigroup, latterly as a managing director and head of Asia healthcare investment banking. Based in Hong Kong since 2011, his projects included working on Zai Lab's US IPO in 2017. Zai Lab completed a secondary listing in Hong Kong in 2018.
Cho will also co-lead CBC's "joint value creation” unit, which works with portfolio companies to generate value through incubation, operational improvement, and corporate transformation. In addition, Cho will join CBC’s management committee.
The firm started out as a China-centric investor but then broadened the scope of its activities to cover more geographies. It has also introduced new strategies such as credit and infrastructure. In private equity alone, CBC has scope to participate in everything from early-stage drug discovery to carve-outs from multinationals.
Recent activity includes leading a USD 315m round - with Mubadala Investment - for China-based Hasten, supporting the carve-out of a drug portfolio from Japan’s Takeda Pharmaceuticals.
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.