Greenpark Capital opens in Hong Kong, appoints head of Asia
Greenpark Capital, which focuses on mid-market private equity secondaries, is to open an office in Hong Kong, to be headed by Chin Chin Teoh in the newly created role as head of Asia.
Teoh joins from Bank of America Merrill Lynch where she was managing director and co-head of the Asia Private Equity Group.
At Greenpark, she will playing a leading role in the firm’s emerging markets initiative with the IFC (International Finance Corporation) and be responsible for sourcing investments across the region for Greenpark’s funds.
There is increasing interest in private equity secondaries in Asia. Record funds have been raised in the region in recent years which, combined with a reduction in exit activity, is forcing Limited Partners to seek liquidity through other routes. Estimates suggest deal flow in Asia could reach over $1bn a year in the coming years.
Last year, Greenpark won a mandate from the IFC to collaborate on an emerging markets initiative. IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. The partnership brings together Greenpark’s expertise in secondaries with IFC’s network, resources and intelligence in emerging markets.