Adveq expands presence in Asia with Hong Kong office
Global private equity fund manager Adveq Management has opened an office in Hong Kong – its third in the region – to be headed by David Seex, head of Asia Pacific at the firm since September.
Adveq opened its first Asian office in Beijing in 2008, followed by one in Shanghai last year.
Its other offices are located in Zurich, Frankfurt and New York, plus a representative office in Sydney.
CEO Sven Lidén said the new Hong Kong office “demonstrates the importance of Asia to the firm’s future plans.”
More and more international investment houses are looking to expand in China, keen to take advantage of its growth story.
Despite the country reporting the first quarterly deficit in its capital and financial account since 1998, rating agency Fitch Ratings maintains a positive outlook on the country.
And Beijing seems keen to welcome foreign managers to its shores.
Since the start of last month, China’s securities regulators have granted four new investment licences to foreign institutional investors. These are Hong Kong-based BOC Group Life Assurance, US-based Hall Capital Partners, the Board of Regents of The University of Texas System and Taiwan’s Nan Shan Life Insurance.
Among global managers hoping to access the market is Cazenove Capital Management, which is planning to open an office in Hong Kong by the end of this year, according to Citywire. The move is pending approval from local regulators.