NewQuest hires Lung-Chi Lee as general counsel

Lee's remit will include new deals, investment structuring, divestments, corporate governance, compliance and other general fund-related matters.

He joins the firm from GE Capital's Asia Pacific team, where he was general counsel for private equity and head of legal for M&A. Previously he worked for law firms Paul Hastings and Perkins Coie in Shanghai, Hong Kong, and San Francisco.

"Lung-Chi is an experienced industry veteran who brings to NewQuest valuable knowledge and insight which will assist the firm as we further establish our direct secondary strategy for the region," said Darren Massara, managing partner at NewQuest.

Lee added: "The opportunity in Asia for a direct secondary strategy is significant and has been largely untapped to date."

As well as announcing Lee's appointment, NewQuest also revealed that it intends to invest $100-200 million in direct secondary transactions over the next 12-18 months.

This news comes after NewQuest acquired more than 20 growth-equity and buyout assets, primarily Chinese and Indian companies, from BoAML's Asian private equity portfolio in the second quarter of 2011. The firm launched the $400 million NewQuest Asia Fund I, which was backed by a consortium consisting of Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia. In addition to China and India, the vehicles is focusing on regional opportunities in Japan, Korea, Taiwan and Singapore.

Massara, who previously led the BoAML Asia private equity team, counts Amit Gupta, Bonnie Lo and Min Lin as his partners on the NewQuest team.

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• Topics
• People
• Greater China
• NewQuest Capital Partners
• Bank of America Merrill Lynch
• HarbourVest Partners
• Paul Capital Partners
• LGT Capital Partners
• Axiom Asia Private Capital
• China