The Swiss private markets investment manager has promoted Kevin Lu, head of Partners Group’s Singapore office and head of the Asian Investment Solutions unit, to chairman of Asia effective January this year, Private Equity International has learned.
In his newly created role, Lu will join Partners Group’s four other regional chairmen – Charles Dallara for the Americas; Patrick Ward for UK and Middle East and Erik Kaas for Europe.
Lu will be responsible for managing Partners Group’s Asia headquarters in Singapore as well as overseeing its other offices in Mumbai, Manila, Shanghai, Seoul and Tokyo.
He has been with Partners Group since 2014 and has 19 years of industry experience. Prior to joining the firm he worked at the World Bank Group as chief financial officer and Asia-Pacific regional director of the World Bank Group’s Multilateral Investment Guarantee Agency.
Earlier in his career, he worked at Credit Suisse First Boston and Global Risk Advisors in New York. He is a Distinguished Fellow attached to INSEAD's Global Private Equity Initiative and was previously on the adjunct faculty of American University’s Kogod School of Business.
Partners Group has $57 billion in assets under management of which $32 billion is in private equity. In Asia the firm has backed firms including China-focused firms Hony Capital and JD Capital, as well as North Asia-focused Affinity Equity Partners, according to PEI data.
Among its most recent investments in Asia are maternity and baby products retailer Aiyingshi and India-based affordable housing provider Au Financing.
In September last year Partners Group opened its office in Manila, which acts as a service hub for the firm’s affiliates.