Private Equity Professionals

Permira’s Asia chairman retires

Hong Kong-based Guido Gamucci will be replaced by Veronica Eng, who will also become chairman of the European private equity firm’s investment committee.

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Guido Gamucci, the chairman of Permira’s operations in Asia, has retired. He will be replaced by Veronica Eng, a member of the firm’s investment committee, executive group and management group, a Permira spokeswoman has confirmed.

From June 2010, London-based Eng will also become the chairman of the firm’s investment committee. She heads the firm's three European funds and its most recent €9.6 billion ($13.6 billion) global fund. Before joining Permira, Eng was the head of corporate finance at Schroder Investment Bank in Singapore.

Veronica Eng
Gamucci, who retired at the end of last year, relocated to Japan in 2005 to set up Permira’s Tokyo office. In 2008, he moved to Hong Kong to open the firm’s second office in the region.

Before setting up the firm’s Asian operations, Gamucci was responsible for its Milan office. Previously, he was a founding partner and a managing director of global financial services firm UBS Capital in Italy. Prior to that, he was the deputy head of investment banking and country treasury for Italy at financial conglomerate Citicorp.

Thus far, Permira has made two investments in Asia. In 2007, it acquired Japanese agrochemical company Arysta LifeScience in a ¥250 billion ($2.8 billion; €2 billion) secondary deal. This was followed by an $838 million investment for a 20 percent stake in Macau-based casino operator Galaxy Entertainment.

In Tokyo, the firm has a four-strong investment team led by Alex Emery, while in Hong Kong it has a five-member team led by Henry Chen.