CITIC adds five to Asia PE teams

The private equity arm of China International Trust and Investment Company has padded its private equity programme with two new hires for its China team and three additions to its Japan team.

CITIC Capital Holdings, the private equity arm of China International Trust and Investment Company, one of the largest investment arms of the Chinese central government, has added to the ranks of its private equity team in China and Japan.

Bo Liu will join the China team as a director, while Terry Cui will join the team as a senior associate. Liu previously ran the China investment operations of US private equity firm Ewing Management Group. He will be the sixth senior member of CITIC Capital’s China team.. Cui was most recently a consultant at The Boston Consulting Group.

Meanwhile, Hanxi Zhao will join CITIC’s Japan team as a managing director, while Yueping Chen and Eriko Yamamoto will join the Jaan team as an analyst and an associate, respectively. Zhao was most recently director of strategy and planning at Dow Jones & Company, responsible for formulating and executing business strategy for its consumer media group. She is the sixth senior member of CITIC Capital’s Japan team. Chen was hired from Arthur D. Little, where she was a business analyst. Yamamoto previous worked for AT Kearney, where she was a consultant focusing on market entry strategies for companies interested in expanding into China.

“We will continue our pursuit of talent at the mid to senior level to complement our existing senior investment team members and to grow the firm as we build our investment franchise,” CITIC Capital chief executive Yichen Zhang said in a statement.

CITIC’s private equity programme started with a $50 million US-focused fund in 2003. The firm later developed a dedicated private equity arm, CITIC Capital Partners. CITIC Capital Partners manages $750 million (€520 million) of committed capital through its three funds: a China-dedicated fund that closed on $425 million in April, a Japan mid-market buyout fund that closed in Y17 billion in February 2006, and two smaller US mid-market buyout funds that closed in 2006 and 2004.