London-headquartered private equity firm Permira has selected Henry Chen and Alex Emery to co-head its Asian operations.
Veronica Eng, who replaced Guido Gamucci as chairman of the firm's operations in Asia in January last year, still holds her position.
From Hong Kong, the duo will spearhead the firm’s expansion across Asia, with a focus on Greater China, Korea and Japan, according to a Permira statement.
Chen joined Permira in 2008 as head of its Hong Kong office and was involved in the firm’s $200 million, all-equity majority investment in Asian Broadcast Satellite in September last year. Prior to Permira, Chen spent nine years at Goldman Sachs’ investment banking division, where he co-headed the general industrials group of Asia ex-Japan. Before that, he was a corporate finance lawyer at Davis Polk & Wardwell in New York and Hong Kong.
Emery helped Permira to establish its first Asian office in Tokyo three years after he joined the London office in 2002. Since 2008, he has headed the Tokyo office and worked on investments including Macau-based casino operator Galaxy Entertainment Group and Japanese agrochemical company Arysta LifeScience, which are the firm’s first two deals in Asia. Prior to joining Permira, Emery was with McKinsey & Company in London.
Emery will move to Hong Kong and Yuji Kato, who joined Permira in 2006, will take over Emery’s role of head of the Tokyo office. Prior to Permira, Kato has worked for GE International, Morgan Stanley, OECD and the Japanese Ministry of Internal Affairs and Communications.
Permira’s ambition to expand in China was underlined by its recent recruitment of David Ho as senior advisor. Based in Beijing, the former president of Nokia in China was to help source telecom deals in the region.
With 12 offices around the globe, Permira focuses on investments in the sectors of consumer, financial services, healthcare, industrials and TMT.