CVC’s Beijing head defects to StanChart

Zhu Wei has left CVC Capital Partners after 14 months to head Standard Chartered Private Equity’s China operations.

Zhu Wei, CVC Capital Partners’ Beijing head, has quit the global private equity firm to join Standard Chartered Private Equity as a managing director and its greater China head.

His departure comes a little over a year since he joined CVC in July 2008. Zhu, who was a senior managing director at CVC, departed the firm in September, leaving a 10-strong investment team in Beijing. There is no replacement for him at the moment, a source close to the firm told PEI Asia.

CVC declined to comment.

At Standard Chartered Private Equity, Zhu oversees the origination, management and divestment of the firm's Chinese investments. He reports to Joe Stevens, the bank's global head of principal finance. Zhu replaces Chen Fan, who resigned this April to pursue his own interests.

Before CVC, Zhu was a managing director of Goldman Sachs Gao Hua Securities, Goldman's China joint venture. He was also a member of the bank’s China investment banking operation committee and headed its Shanghai coverage. Previously, he was president of management consulting firm A.T. Kearney's Greater China region and strategic consultancy Roland Berger China.

Standard Chartered Private Equity makes investments from its balance sheet. It invests in mid- to late-stage companies in need of expansion capital or acquisition finance, and in management buyouts, in Greater China, India, Korea and Southeast Asia. As of July, the firm had invested a total of $1.24 billion in 27 companies. It has one office in China, which is also in Beijing.