CIC exec leads EIG Global Asia efforts

Yangyang Liu has joined the energy-focused investor in its Hong Kong office

EIG Global Energy Partners, a private equity firm focused on energy investments worldwide, has hired Yangyang Liu to head up its Hong Kong office, according to the firm.

It hired Liu as a managing director in September last year, according to her LinkedIn profile, although did not make an official announcement at the time.

Liu joins after a 12-year stint at sovereign wealth fund the China Investment Corporation, where she was most recently head of oil and gas for the organisation, a position she held since 2013. Prior to that, she held posts within the firm’s private equity department and special investment department.

Before CIC, Liu spent six years at Morgan Stanley in Hong Kong, New York and London.

Washington-based EIG first opened its location in Hong Kong in 2012 as its first office in the Asia Pacific region and fifth globally. The office was intended to take advantage of opportunities for investments in energy, resources and related infrastructure fueled by demand growth in Asia, EIG said in a statement at the time.

It added that non-OECD countries were projected to account for 90 percent of the growth in global energy demand by 2035, with some estimates placing the total investment required to meet this increased global demand at nearly $40 trillion.

As a part of its Asia expansion strategy, EIG had also partnered with Korea’s Woori Asset Management and steelmaker POSCO to launch a private equity fund focused on natural resources earlier this year. In February 2012, EIG also sold a small stake in the management company to CIC. 

The firm also hired a new chairman last year, William Sonneborn, who was most recently head of KKR Asset Management, Private Equity International reported earlier. Sonneborn assumed his position at EIG in May 2014, having retired from KKR in July 2013 and transitioning to a senior advisor for the global private equity firm.