Ex-CIC real estate head to launch investment fund
The former global head of real estate at China Investment Corporation (CIC) has launched an independent investment fund. According to regulatory filings in Hong Kong, Collin Lau was appointed director of Bei Capital Partners in June.
The firm itself was incorporated in February and William Yoo, a real estate equity and debt specialist who used to work for Fried Frank in Hong Kong, joined as a director two months later.
Lau joined CIC in 2009 from US firm Starr International and led the real estate team until late 2011 when he became head of European private equity operations. He left the sovereign wealth fund 3-4 months later.
Investments made during Lau's tenure include a 19.9% stake in Goodman Group, having committed A$500 million ($460 million) to an A$1.8 billion bailout package for the troubled Australian industrial property trust, and the acquisition of Songbird Estate, the distressed majority owner of London's Canary Wharf, in partnership with Qatar Investment Authority.
Patrick Wu, who replaced Lau as head of real estate at CIC, quit in February after just two months in the job.
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