China Sovereign fund European PE head quits
The European head of private equity at China Investment Corporation has resigned after only four months in office.
Collin Lau has decided not to renew his three-year-contract with the Chinese sovereign wealth fund because of “personal and family reasons”, according to the Wall Street Journal.
Lau joined the fund as global head of real estate in February 2009 before joining the private equity arm last December.
His resignation follows the departure of his replacement in real estate, Patrick Wu, after only two months in office.
Lau had previously led the Asian private equity platform at Starr International group.
CIC was established in 2007 and manages over £210bn in assets, 7% of which is allocated to private equity.