CDC, Ronny John part company(3)

Former Asian Development Bank executive Veronica John is leaving CDC, just six months after having joined the emerging markets private equity group earlier this year.

Veronica “Ronny” John is leaving CDC, a UK-based, government-owned investment group specialising in making investments in private equity funds in poor countries.

Veronica John

John had joined CDC and moved to London earlier this year from the Asian Development Bank, where she had spent several years investing in emerging market private equity funds. At CDC, John was one of a number of Asia-focused investment professionals, alongside Brian Lim, Innes Meek and Anubha Shrivastava, who joined the firm in July of this year.

Richard Laing, who runs CDC from its London headquarters, said: “Ronny John has left CDC to pursue her career in investing in emerging markets”. He also said the firm was planning to augment its investment team and was currently in hiring mode.

Speaking to PEO on the fringes of an industry conference in Hong Kong last week, John expressed an interest in launching a fund of funds business focusing on Asia and CIS. John speaks Russian and has spent a portion of her career working in Kazakhstan.

According to market sources, CDC, which invests in Asia, Emerging Europe, Africa and Latin America, is currently considering a move toward independence. The firm has confirmed the appointment of Morgan Stanley as strategic advisor.

In 2006, CDC’s net assets increased by 23 percent to £2 billion ($4 billion, €3 billion) as a result of substantial valuation gains, according to the firm’s annual report. Its investment portfolio generated a total return of £375 million. New fund commitments increased by 78 percent to £413 million.