DE Shaw names CEO of Chinese PE unit

The hedge fund giant has solidified its private equity office in China with the appointment of a former JPMorgan pro Liang Meng.

New York-based The DE Shaw group announced today that Liang Meng was named chief executive officer of the firm’s private equity activities in China, and will be based in their Hong Kong office.

Meng joins the firm from JPMorgan Securities (Asia Pacific) Limited, where he served as managing director and co-head of China Investment Banking. Prior to that, he worked at Credit Suisse First Boston in New York on media and telecom M&A.

The appointment comes after Stamford, Connecticut-based SAC Capital, another major hedge fund, announced its own private equity platform dedicated to Asia earlier this month. The SAC initiative is managed by three ex-Ripplewood professionals, deploying capital from the assets already under management from the firm. 

The investment focus or funding of DE Shaw’s private equity activities remain undisclosed, though the firm announced diversifying its offerings into traditional asset management as well. PrivateEquityOnline reported in May of 2005 that the hedge fund was pursuing buyout opportunities more aggressively, noting the purchase, reorganisation and reopening of two flagship stores of toy retailer FAO Schwartz.