Private Equity Professionals

CVC makes Asian appointment

The buyout firm has hired Allen Han from Honeywell as a senior managing director on its operations team in Asia.

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CVC Capital Partners has hired Allen Han as a senior managing director on its operations team in Asia. In his new role, Han will focus on working with portfolio companies and their boards to drive their growth. 

He will also be involved in helping the firm’s deal teams in evaluating potential investment opportunities, the firm said in a statement.

At CVC, Han will now join the boards of companies including Zhuhai Zhongfu Enterprises, a Chinese beverage bottler; Nien Made Enterprises, a window furnishing company; Asia Timber Products, a Chinese wood panel and flooring manufacturer; and Hung Hing, a printing company in Southern China.

Han joins CVC from Honeywell, a conglomerate with diverse interests in aerospace systems, engineering services and consumer products. At Honeywell, Han has worked as vice president and general manager in China and the US. He was most recently the head of Honeywell’s global sensing division. 

Before that, he worked at General Electric across various business divisions and at the corporate level. He has also worked as a consultant at Booz Allen Hamilton in Asia. 

CVC has been fairly active over the last few months. Earlier this week, it entered into an agreement to invest HK$2.14bn ($275.7 million; €206.1 million) in Sun Hung Kai Financial, a Hong Kong-headquartered non-banking financial services institution. 

In March, the firm agreed to sell its 100 percent interest in Malaysia’s Paperbox Holdings, a holding company of GS Paper & Packaging, for an undisclosed sum. Two months prior, it teamed with Indonesian retailer Matahari Putra Prima to acquire a 90.76 percent stake in department store chain Matahari Department Store for about IDR7.2 trillion (€547 million; $774 million), marking its maiden deal in Indonesia. 

Established in 1981, CVC has completed more than 250 investments globally. In Asia, the firm has completed 32 investments since 1999 with an aggregate transaction value of $19 billion across Greater China, Southeast Asia, Korea, Japan, and Australia.