D.E. Shaw’s Meng departs to launch own fund

According to a Reuters report, the new fund targets $500 million, with capital commitments made by PRC businesspeople who have previously worked with Meng and Zhang at D.E. Shaw and Goldman.

Representatives from D.E. Shaw did not respond to AVCJ's media queries by press time.

Meng joined the firm in February 2007 as CEO of its then-newly formed Greater China private equity unit, headquartered in Hong Kong. He was previous Managing Director and Co-Head of China Investment Banking at J. P. Morgan Securities (Asia Pacific). Zhang, meanwhile, was reportedly a member of Goldman Sachs' Asian Special Situations Group from 2005 to 2009.

In terms of Meng's PE experience, he told AVCJ last October that, "In the last three and a half years, we've put around $1 billion to work in China private equity. The interesting thing is that people view us as a large hedge fund. They don't realize how big our private equity business is, particularly in Asia."

 

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