Former Deutsche PE exec joins Swiss-Asia

Pying-Huan Wang has been hired as head of Swiss-Asia Financial Services infrastructure investments, which is preparing to launch its debut infrastructure investment vehicle, the China District Energy Fund. Wang formerly headed Deutsche’s private equity group.

Pying-Huan Wang, who formerly led investment management at Deutsche Bank’s private equity group, will head the firm’s infrastructure investments and also work as managing director of the fund manager's Hong Kong-based sister company Swiss-Asia Asset Management.

Wang had been on gardening leave from the bank after leading the private equity group at Deutsche Bank for four years. She told PEO in a prior interview her new role, which at the time was not disclosed, would focus on alternative products in Asia, including infrastructure private equity energy funds and Asia fund of hedge funds.

At Swiss-Asia, Wang will lead the fund manager’s debut of its new infrastructure product, the China District Energy Fund, which will be structured as a Luxembourg Société d’investissement en capital à risqué (SICAR), which are tax-efficient, regulated on-shore investment funds.

The China District Energy Fund, which will partner with Dalkia, a division of Veolia Environment, will buy, refurbish, upgrade and expand energy assets in Greater China. Wang will analyse investment opportunities, conduct due diligence and monitor investments.

At Deutsche Bank, Wang was responsible for the selection of fund managers and co-investment activities on a global basis. Prior to that, she was one of the original founding members of Excelsior Capital Asia, previously known as Capital Z Asia, a direct investment firm. She has also worked at UBS’ project finance division in Hong Kong.

Pying worked with wealthy individual clients at Deutsche and helped create funds that, during the peak of the credit bubble, raised hundreds of millions of dollars. Those wealthy clients’ appetites changed over time, Wang told PEO at the time.

Pying-Huan Wang

“After the crisis, because a lot of people had done structured products, they inevitably had liquidity issues and were less willing to make long-term commitments,” she said.

At Deutsche, Wang did see the growing appetite among wealthy clients for exposure to Asia, and, capitalising on her Asian direct investment experience, she led the due diligence and selection of Asian fund managers, she said.

Last year, Deutsche Bank bought Sal. Oppenheim Group, including Sal. Oppenheim Private Equity Partners, and has been in the process of integrating the various teams.

Swiss-Asia is a Singapore-registered fund management company that started operations in 2004.