Pantheon Ventures, the first Western private equity investor to raise an Asia-dedicated fund of funds, has hired Brian Lim from UK government-sponsored fund of funds CDC Group.
At CDC, Lim was a portfolio director for the pan-Asian region. Prior to CDC, he spent six years at Watson Wyatt where he was responsible for advising institutional investors on investment strategies and private equity allocations.
CDC, which invests around $1 billion in emerging markets-focused funds annually, last year shifted its investment strategy to focus more on Sub-Saharan Africa and less on Asia following a UK government review of its investment guidelines.
Lim joins Pantheon’s Asian team as a principal, said Chris Meads, a Hong Kong-based partner at Pantheon. Lim’s recent experience at CDC where he was involved in emerging markets investing will make for a strong addition to the firm’s Asian team.
At Pantheon, Lim will be involved in committing capital across all geographies with a bias towards investing in the more emerging markets of Asia, Meads said.
Pantheon is currently committing capital out of Pantheon Asia Fund V, an $800 million fund of funds which closed in mid-2008. Some of the private equity managers the firm has backed in Asia include Unitas Capital (formerly CCMP Capital Asia), Baring Private Equity Asia, GGV Capital and Affinity Equity Partners.
The firm’s Hong Kong office opened in 1992. It currently has seven investment professionals.
It has other offices in Brussels, London, New York and San Francisco. Pantheon managed assets of more than $23.1 billion as of 31 December 2008.
CDC did not respond to a request for comment by press time.