Unitas Capital, formerly known as CCMP Capital Asia, has appointed Lian Xiaolu as a managing director.
Based in Shanghai, Lian brings the number of investment professionals in the firm’s Shanghai office to four.
“The depth of Lian’s relationships with large PRC companies is expected to further strengthen Unitas’ deal sourcing capabilities in China,” Andrew Liu, a managing partner and chief executive officer of Unitas, said in a statement.
Lian was previously a managing director at French bank BNP Paribas as well as chief representative of its Shanghai office. Prior to BNP Paribas, Lian was at Chinese petrochemical company Shanghai Petrochemical Company. There, he held management positions such as deputy director of the secretary office of the board of directors and deputy director of the strategic planning department.
Earlier this month, Unitas closed its Tokyo office. “It makes better sense to concentrate our resources on the core markets of greater China, Korea and Australasia, where we see better deal flow,” Liu said in an interview at the time.
In January, Unitas hired Ajeet Singh as a partner in Hong Kong, to identify investment opportunities as well as support the firm’s portfolio companies in the industrial sector.
In December 2008, Unitas closed its Asia Opportunity Fund III on $1.2 billion. It had gone to market in April 2007 with an initial target of $2.5 billion.