Chepstow Capital builds out team

The founders of the Hong Kong-based mid-market firm have turned to their former colleagues at HSBC PE Asia and CLSA Capital for new recruits.

Hong Kong-based Chepstow Capital has made three appointments as it builds out its team following the firm’s official launch in September.

Two of the three, David Paterson and Michael Tsang, have joined from HSBC Private Equity (Asia), the former employer of Chepstow co-founder Vince Warner.

Paterson, a founding shareholder and former managing director at HSBC PE Asia, has joined Chepstow as a director and chairman of the firm’s investment committee.

Tsang, previously a deputy managing director responsible for Greater China at HSBC PE Asia, has taken the role of managing director, also with responsibility for investments in Greater China.

Meanwhile, Genevieve Heng has joined Chepstow from CLSA Capital Partners, the former employer of Chepstow co-founder Josephine Price. At Chepstow, Heng will be managing director with responsibility for investment in Southeast Asia, having had the role of managing director of growth and expansion capital at CLSA.

The mid-market is more attractive than the large cap market now.

Josephine Price

Warner and Price established Chepstow Capital to focus on mid-market opportunities in Asia. They hold the roles of CEO and chief investment advisor respectively at the firm, as well as being managing directors.

“The mid-market is more attractive than the large cap market now, with the added bonus that few top-tier fund groups in Asia have strategies focussed on the mid-market or the appetite for smaller deals,” Price said in a statement at the time of the firm’s inception.

Before setting up Chepstow, Warner was the chief executive officer of HSBC Alternative Proprietary Investment Advisor. He was also a senior member of the bank’s Asian private equity business for 12 years.

Price was formerly the deputy chief executive officer of CLSA Capital Partners, the alternative asset management arm of investment bank CLSA Asia-Pacific Markets. She joined CLSA in 1995 to establish its private equity business and was the managing director of Aria Investment Partners, a series of pan-Asian growth capital funds.