Cathay Capital hires first COO

Daniel Balmisse will join the Paris-based firm as its new chief operating officer in July.

Paris-based Cathay Capital Private Equity has appointed Daniel Balmisse as group chief operating officer (COO).

Balmisse will take up the newly created position in July, according to statement from Cathay Capital.

Balmisse has joined the firm as its consolidates its presence in the three continents – Europe, Asia and North America – in which it operates, the firm said.

He joins Cathay from Bpifrance, where he spent 11 years. Most recently he served as executive director of funds of funds and was a member of the executive committee. During his tenure he managed a portfolio of over 300 funds and €5 billion of assets, according to the statement.

Bpifrance is a cornerstone investor in Cathay's funds, including the recently launched Sino-French Innovation Fund, a 2015 vehicle with a target of €250 million and the Sino-French Midcap Fund, which it closed on €500 million in 2014 and is currently investing, according to PEI Research and Analytics. 

Balmisse has also worked in the private equity team at CDPQ, where he served as head of venture capital investments for the information and technology and communications sector.

Cathay Capital specialises in cross border investments in China and is active in this region, alongside the US and EU.

The firm is currently raising its third small-cap vehicle and is seeking to attract more investment from European, US and Middle Eastern LPs, as reported by Private Equity International.