David Lai has resigned from Asian buyout firm Affinity Equity Partners.
KY Tang, Affinity’s chairman, told PEO that last month Lai “had retired at the young age of 47”.
Lai joined UBS Capital Asia, which later spun out to become Affinity, in 1996 where he oversaw its day-to-day operations, including building its buyout business. Before, he was a director with Asian private equity investor Prudential Asset Management Asia and also worked for Suez Apac, the private equity arm of multi-bank holding company Banque Indosuez.
UBS' Asian private equity group became independent of the bank in 2004 and rebranded as Affinity.
In 2007, Affinity closed its second fund, Affinity Asia Pacific Fund III, with $2.8 billion in commitments. At that time, it was the largest private equity fund raised in Asia.