Greenpark Capital, a global leader in mid-market private equity secondaries, has opened a new office in Hong Kong, to be headed by Chin Chin Teoh.
Teoh, who will take the newly created role of Head of Asia, joins from Bank of America Merrill Lynch, where she was Managing Director and Co-Head of the Asia Private Equity Group.
At Greenpark, Teoh will head up the Asia-Pacific operation, playing a leading role in the firm’s emerging markets initiative with the IFC (International Finance Corporation). In addition, she will be responsible for sourcing investments across the region for Greenpark’s funds.
The opening of the new office comes at a time of increasing interest in private equity secondaries in Asia. Record funds have been raised in the region in recent years which, combined with a reduction in exit activity, is forcing LPs to seek liquidity through other routes. Estimates suggest deal flow in Asia could reach over USD1bn a year in the coming years.
Last year, Greenpark won a mandate from the IFC to collaborate on an emerging markets initiative. IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. The partnership brings together Greenpark’s deep expertise in secondaries with IFC’s network, resources and intelligence in emerging markets.
Prior to Greenpark, Teoh spent 14 years at Bank of America Merrill Lynch, initially in the Leveraged Finance Group and Global Private Equity Group, with a focus in Asia.
“I am delighted to be joining Greenpark at this exciting time,” says Teoh. “Institutional investors and general partners in Asia are rapidly opening up to private equity secondaries, and the region is set to become a major source of capital and deals. This is a unique opportunity to join one of the world’s most established private equity secondaries players and to help build a major new operation in the Far East.”
Marleen Groen, CEO of Greenpark Capital, says: “We are delighted to welcome someone with Chin Chin’s experience and ability to our team, and we look forward to building the team with her over the coming years. The new Asia operation is a crucial element of our global expansion plans, and will improve our relationships with local institutions that are becoming increasingly interested in private equity secondaries solutions.”
