Adveq hires China head

Ex-Hony Capital investment director Ron Li has joined the Switzerland-based fund of funds in Beijing to lead its China operations in private equity and real assets.

Swiss fund of funds Adveq has hired Ron Li as managing director and head of China, according to a company statement. The appointment was effective from January 2013, with Li based in the firm’s Beijing office. 

Li joins from Legend Holdings where he built up the firm’s real estate finance business Raycom Real Estate Asset Management. He also previously worked with Legend’s private equity arm Hony Capital as an investment director. 

Sven Lidén, chief executive of Adveq, said in a statement: “We are delighted to welcome Ron Li to our team. He combines an extensive track record in local investing with his exposure to international governance standards and an entrepreneurial mindset, which will undoubtedly benefit our clients. Adveq’s investment activities in Asia date back to 1998 and our presence in Beijing and Shanghai underscores the strategic importance we place on China.”

Adveq has recently bolstered its capabilities in Greater China by opening a Hong Kong office in August last year. The firm hired David Seex in Hong Kong to head its Asia operations and is currently raising its third vehicle targeting $300 million, which will likely focus on opportunities in Greater China and India, PEI reported earlier. 

Adveq Management is a Switzerland-based fund of funds with about $4.5 billion in assets under management, according to PEI's Research & Analytics division. The firm has 100 percent allocation to private equity and focuses on venture and small- to mid-cap growth investing.