Hong Kong-based private equity advisory firm NewQuest Capital Partners has appointed Lung-Chi Lee as general counsel to focus on investment structuring, divestments, compliance and other general fund-related matters, the company said in a statement today.
Prior to this Lee was the vice president and senior counsel of GE Capital based in Hong Kong and has been working with the Asia equity team since July 2007 on investments and divestitures across the Asia Pacific region, including China, Hong Kong, Taiwan, India, Japan and Australia. Prior to GE, Lung-Chi practiced at Paul, Hastings, Janofsky & Walker LLP in Hong Kong and Shanghai.
“The recent appointment of Lung-Chi, together with other key professionals in the past nine months, ensures that NewQuest is positioned to deploy capital to help existing PE investors monetize their positions, secure liquidity and achieve their strategic objectives,” Darren Massara, managing partner at NewQuest commented on the appointment.
The private equity firm plans to deploy $100 to $200 million over the next 12-18 months to acquire portfolios of direct private equity positions in Asia from investors seeking liquidity solutions.
Incorporated in 2011, NewQuest Capital Partners was created by a syndicate of limited partners - Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia - which acquired the Bank of America Merrill Lynch’s non-real estate private equity portfolio in Asia.
The firm has $400 million private equity fund and manages diversified portfolio with interests in clean energy, telecom, media and technology, financial services, healthcare, consumer, industrials and logistics.