Former MBK co-founder sets up own firm – reports

Kuo-Chuan Kung is launching a new Chinese buyout firm, less than six months after leaving MBK.

Kuo-Chuan Kung, a former co-founder and head of China of MBK Partners, has reportedly set up his own private equity firm Nexus Point Partners which will focus on Chinese buyouts.

Richard J. Wong, head of mergers and acquisitions for Asia Pacific at Morgan Stanley, and Min Li, a former principal at Bain Capital in charge of China healthcare investments, are joining Kung at Nexus Point, according to sources quoted by the Wall Street Journal.

Kung and Li have updated their LinkedIn profiles to reflect their new roles at the firm: Kung is now founder and managing partner, while Li is now a partner at the new firm.

Kung oversaw China, Taiwan and Hong Kong for MBK and led its Shanghai office. He left in October last year for personal reasons after almost 12 years at the firm, and shortly before MBK raised its biggest fund to date, $4.1 billion MBK Partners IV. Kung was also the lead dealmaker on MBK Partners’ investment in Taiwan’s China Network Systems (CNS) and served on the boards of Beijing Bowei Airport Support, CNS and Shanghai-headquartered Apex Logistics.

Prior to MBK, Kung was the head of Carlyle’s Shanghai office.

MBK declined to comment and Nexus Point could not be reached for comment by press time.