Actis reassigns China after Lim's departure

Meng Ann Lim, head of China and SEA, has left, and the firm has reassigned Asia responsibilities.

Meng Ann Lim, partner and head of China and Southeast Asia at Actis, has left the firm, which has since restructured responsibilities for its Asia operations, the firm's spokeswoman has revealed to Private Equity International.

Lim, who drove China investments, left Actis in September 2013, though the firm did not issue a statement. 

Dong Zhong, a partner based in Beijing, has become head of China. 

London-based Alistair Mackintosh, partner and chief investment officer, has taken on the responsibilities for Southeast Asia, the spokeswoman said.

Actis’ Singapore office, where Lim had been based since relocating from Beijing in 2012, now has four directors.

Lim led investments in Chinese companies such Xiabu Xiabu, a hot pot quick service restaurant chain which the firm exited in 2012, reportedly for a 3x multiple and in current China holdings that include casual dining chain Bellagio, 7 Days Inn, a budget hotel chain and in Ambow Education, which last year faced allegations of mismanagement.

Lim joined Actis in 2007 after a ten-year career at GIC, where he was executive vice president with responsibility for GIC's private equity investment activities in China. Prior to that, he was with the International Finance Corporation where he was the investment officer for East Asia, specialising in industrial projects in China.

About the time that Lim left, Actis had another high-level departure. Jonathan Bond, head of investor relations, left after heading up fundraising at the firm, and its former parent CDC Group, for almost 13 years, PEI reported at the time. He was replaced by Neil Brown.