Century Bridge hires ex-PwC assurance executive
Century Bridge Capital has appointed Michael Yan as a director, tasked with providing strategic guidance on asset management and growth strategies. He was previously a senior manager in PricewaterhouseCoopers’ (PwC) assurance division.
Century Bridge is adding to its team after closing its debut China real estate fund at $170 million in September of last year. The GP originally targeted $400 million for the vehicle, which launched in 2010, but this was revised downwards amidst a challenging fundraising environment.
"Michael Yan is a seasoned financial and compliance executive with in depth experience and background in financial, compliance and risk management who will be a valuable resource for our project management team as we continue to grow our portfolio," said Tom Delatour, CEO of Century Bridge.
The private equity firm's fund focuses on build-to-sell, middle-income and residential real estate projects in tier-two cities. Speaking to AVCJ last year, Delatour noted that tighter bank lending policies and restrictions on trust companies lending to developers have created more opportunities for foreign direct investment in the sector.
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