People – July 2009

Qiming brings in three, raises $320m * Philipp to go it alone in MENA * Morgan Stanley appoints Japanese PE head * JPMorgan pro joins Blackstone's GSO * Paul Capital appoints Hong Kong office head * Carlyle hires Citibank Japan president * Credit Suisse appoints Asian head of sponsors

Qiming brings in three, raises $320m
Chinese venture capital firm Qiming Venture Partners has added three members to its investment team in China. It has also closed its second fund, Qiming Venture Partners II, on $320 million.

Hans Tung, who was formerly at Bessemer Venture Partners, a venture capital firm focussed on making investments in the US, China, Israel and India, has been appointed as a partner. Richard Chen, a former chief executive officer of Yifei Investment Holding, a Chinese media and consumer investment group, joins Qiming as a venture partners. Finally, Robert Headley, partner at Qiming’s US sister-firm Ignition Partners, has also joined the investment team in China.

In addition, Qiming has promoted Nisa Leung to partner.

Qiming Venture Partners II is an early stage fund, though it will also invest at the growth and expansion capital stage. The firm said that it will focus on the media and internet, technology, healthcare and consumer sectors. Established in 2006, Qiming manages assets of more than $500 million.

Philipp to go it alone in MENA
Michael Philipp, chairman and chief executive of global bank Credit Suisse for Europe, Middle East and Africa, has left the bank to launch his own company, according to an internal memo obtained by sister publication PrivateEquityOnline.com.

He will form an advisory company that will provide investment management and advisory services in Africa and the Middle East. A spokesman for the bank said: “We expect to work with him as a client of Credit Suisse,” and declined to comment further.

Philipp was Credit Suisse’s first ever chief executive in the EMEA region and helped expand the bank’s reach into the Middle East and North Africa.

Prior to Credit Suisse, which he joined in 2002, he worked in various senior roles at Deutsche Bank, Merrill Lynch and Goldman Sachs.

Morgan Stanley appoints Japanese PE head
Global investment bank Morgan Stanley has Appointed Yoshihiko Shigenari as the head of its private equity operations in Japan. He is now a representative director of Morgan Stanley Capital and will lead Morgan Stanley Private Equity’s activities in the country.

A spokeswoman for Morgan Stanley told PEI Asia that Shigenari will be working closely with Chin Chou, chief executive officer of Morgan Stanley Private Equity Asia. Chou said in a statement: “Our focus on developing a strong private equity business in Japan builds on Morgan Stanley’s established track record in China, South Korea and across other markets in Asia.”

Shigenari was a representative director and co-head of the investment banking division of Morgan Stanley Japan Securities. He joined Morgan Stanley in 1989 and has worked in areas related to investment banking, corporate finance and real estate in New York and Tokyo.

Morgan Stanley’s private equity team in Japan now consists of seven, the spokeswoman said. In May earlier this year, the bank set up its Indian private equity unit and hired Aluri Rao from ICICI Venture to lead its operations.

JPMorgan pro joins Blackstone’s GSO
Tim Donahue, formerly the head of JPMorgan’s Asia Pacific leveraged and acquisition finance group, has quit the firm to join GSO Capital Partners, an alternative assets manager focussed on leverage finance. GSO is owned by The Blackstone Group.

Donahue will start GSO Capital Partners’ credit investment business in Asia. He will join GSO later this year, a source familiar with the development says. In his new role, he will report directly to GSO founder Bennett Goodman.

Donahue, who was based in Hong Kong, resigned from his post at JPMorgan in May this year, a spokeswoman for the investment bank confirmed. Blackstone declined comment.

GSO Capital Partners was established in 2005 and was acquired by Blackstone for $930 million earlier this year. It manages total assets of about $10 billion in a credit hedge fund, mezzanine capital and CLO vehicles.

Paul Capital appoints Hong Kong office head
US secondaries and fund of funds firm Paul Capital Partners has appointed Lucian Wu as a managing director and head of the firm’s Hong Kong office. He is responsible for managing the firm’s secondary investments in the Asian region.

Wu previously worked at Henderson Private Capital, the private equity arm of Henderson Global Investors, where he was a partner in the firm’s Asian team. He was also a founding member of Electra Partners Asia, another private equity firm.

Paul Capital’s Hong Kong office was opened in 2007 by Jason Sambanju, who joined the firm as a principal at the same time. Its other offices are located in London, New York, Paris, Sao Paolo, San Francisco and Toronto. The firm manages about $6.6 billion.

Carlyle hires Citibank Japan president
The Carlyle Group has appointed Citibank Japan president Sunil Kaul as a senior director in its Singapore office. Kaul is Carlyle’s second senior hire from Citi in recent months, following the firm’s appointment of Devinit Singh, Citibank’s managing director of investment banking in India, to its Indian buyout team in May.

Before heading Citibank Japan, Kaul was head of Citibank’s retail banking and CitiBusiness operations in the Asia Pacific. At Carlyle, he will be a member of Carlyle Asia Partners’ financial services team and use his retail, corporate and consumer banking experience to provide expertise to the firm’s portfolio companies in the region. Carlyle Asia Partners makes majority and strategic minority investments.

Carlyle Asia Partners’ first two funds closed on $750 million and $1.8 billion in 1999 and 2005 respectively. It is currently raising $2 billion for Carlyle Asia Partners III, according to the Probitas Partners 2008 Private Equity Deskbook. Carlyle’s other Asian offices are located in Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Sydney and Tokyo.

Credit Suisse appoints Asian head of sponsors
Credit Suisse has appointed Ronan Agnew as head of its financial sponsors coverage for the Asia Pacific region, a role in which he will be leading the business to support the bank’s private equity clients. He will report to Paul Raphael, the head of investment banking for Asia Pacific ex-Japan, and Harold Bogle, the bank’s global head of financial sponsor coverage.

Raphael said in a statement that Agnew’s transaction experience will be valuable to clients in the Asian region, “who are increasingly active in some of the industry’s defining transactions.” The change in role will see him relocate from the firm’s London office, where he has been based since 2005, to Hong Kong, the firm said. He has served as cohead of the bank’s European Financial Sponsors Group. Agnew has led a number of transactions and has recently closed deals in the US and a host of European countries such as Germany, Spain, Sweden, Ireland, France and a few others.