KKR has appointed Paul Yang as the new head for Greater China, replacing David Liu who is set to leave the firm at the end of 2016 to start his own private-equity firm.
Based in Hong Kong, Yang will spearhead the team and business development in Greater China, leading a team of over 20 professionals in the Beijing office.
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Yang, current president and CEO of China Development Financial Corporation (CDFC), will take over the new role in January 2017. He joined CDFC in 2005 as its CIO and head of its private equity arm.
KKR Asia managing partner Joseph Bae said: “Paul Yang brings 20 years of investment experience to KKR. He is well versed in private equity, venture capital, corporate and commercial banking, and he has a proven ability to effect M&A and lead a multibillion-dollar enterprise throughout Greater China.
“As we head into our next decade of investing in China, we plan to continue to expand our scope of investments to include more mid-cap buyouts, cross-border deals and opportunities related to the domestic consolidation there, as well as in continuing to participate in growth-oriented investments.”
KKR manages investments across a range of asset classes such as private equity, energy, infrastructure, real estate, credit and hedge funds. The company set up operations in Asia in 2005 and currently has seven offices in the region.
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By GlobalDataThe recent appointment comes after the company’s recent announcement to expand its Asia-Pacific leadership team, and appointment of Zhen Ji as a managing director of KKR China.
KKR member and KKR Asia Private Equity head Ming Lu said: “China’s macroeconomic development has been robust the past few years. I look forward to working with Paul Yang, Zhen Ji, and the KKR China team to continue accelerating the build-out of our business in China.”
