Greenpark opens Hong Kong office; appoints Asia head

In the newly created role of head of Asia, Teoh - who was managing director and co-head of the Asia private equity group at BoAML - will source deals in Asia Pacific and run Greenpark's emerging markets initiative with the International Finance Corporation (IFC). According to sources cited by Reuters, this will involve managing the $500 million global fund the firm has just launched, which includes a $100 million cornerstone investment from IFC.

The vehicle will start by investing in Asia, principally mature markets such as Japan, Taiwan, South Korea and Singapore. It will later extend its reach into Latin America, the Middle East, Africa and Central and Eastern Europe.

Teoh, who began working at BoAML's leveraged finance group and global private equity group 14 years ago, commented: "Institutional investors and general partners in Asia are rapidly opening up to private equity secondaries, and the region is set to become a major source of capital and deals."

For secondary investors like Greenpark, Asia has become a target-rich environment. Firms are scouring the region for managers that want to service their existing funds, either by selling off assets or receiving top-up capital, or even getting out of the business altogether.

 

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• Topics
• People
• Greater China
• North Asia
• Southeast Asia
• Hong Kong (China)
• Greenpark Capital
• Secondaries