Advent adds operating partners for China chemicals sector

The appointments come after the private equity firm opened its first China office in Shanghai last month. Led by Managing Director Filippo de Vecchi and Principal Andrew Li, Advent's Greater China operation focuses chemicals, healthcare, retail, consumer and leisure - also the private equity firm's core sectors globally.

Advent's operating partner program involves some 60 senior industry executives who help identify investment targets, conduct due diligence and create value for portfolio companies.

Zhu was recently named China country general manager of Solvay, a Belgian chemicals and plastics company, following its recent merger with Rhodia, where he had worked since 1994. Prior to joining Rhodia, Zhu was head of ICI's Shanghai representative office.

Tsao has held different roles in DuPont for more than 35 years, most recently heading up the firm's performance coating business in China.

"The chemicals sector is a core area of focus for Advent in China. We are committed to helping our portfolio companies in this sector achieve expansion and long-term sustainable performance," De Vecchi said.

Founded in 1984, Advent has invested in over 30 companies in the chemical sector globally in the past 25 years. Recent investments include Cytec, H.C. Starck, Maxam, Mondo Minerals, Oxea and Vinnolit. Last year, the firm closed its seventh global buyout fund at EUR8.5 billion ($10.8 billion).

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• Topics
• People
• Greater China
• Advent International
• Appointments
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• China