JPMorgan's Private Capital Asia appoints regional heads

Vibhav Panandiker has been hired to lead the Asian mid-market arm's private equity investments in Southeast Asia and India, while Cathy Zhang will oversee investments in Greater China.

JPMorgan has hired Vibhav Panandiker and Cathy Zhang as managing directors for Private Capital Asia, which is a part of the bank’s private equity principal investments business.

Panandiker will be based in Singapore and responsible for overseeing the firm’s private equity investments in India and Southeast Asia. He worked previously in the Singapore office of Standard Chartered Private Equity, the private equity division of the UK bank.

Zhang, who is to be based in Hong Kong, will be responsible for private equity investments in Greater China. Zhang was previously with Dragontech, a Hong Kong-based technology company that provides networking solutions to small- and medium-sized businesses.

The two new hires will report to Varun Bery, a managing director and the head of Private Capital Asia.

The appointments are in keeping with JPMorgan’s long term commitment to Asia where it sees “significant potential opportunities arising from the market downturn”, the bank said in a statement.

In February 2008, JPMorgan recruited the entire team of TVG Capital Partners, an Asia Pacific-focused private equity firm, and appointed the firm’s co-founders Varun Bery and John Troy as managing directors of Private Capital Asia.

Private Capital Asia has a mid-market investment mandate across various sectors such as telecom, media, resources, information technology, healthcare, consumer and retail. The firm invests across Asia but focuses primarily on Australia, China, India, Japan and Korea. It has offices in Hong Kong, Mumbai, Singapore and Sydney.

JPMorgan also invests in private equity via One Equity Partners.