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H&Q Asia Pacific to raise first yuan private equity fund for China

28 Dec 2011

Hong Kong private equity firm H&Q Asia Pacific is looking to raise its first yuan-denominated fund for mainland China.

Chairman Ta-lin Hsu, quoted in the Wall Street journal, said, “We’ve seen a surge in interest from domestic investors” for private-equity funds.

He added that the firm would continue to raise dollar-denominated funds.

In october, H&Q led A consortium of investors  to buy a controlling stake in iMarketKorea, the procurement management arm of South Korean electronics giant Samsung.

The consortium reportedly trumped global buy-out firms KKR and Asia’s MBK Partners for the stake, which comes with an agreement from Samsung that the company will provide five-year guarantees to its buyers, ensuring KRW2tr ($1.8bn) of annual revenue.

H&Q Asia Pacific has managed an aggregate of more than $2.7bn in committed capital through 23 funds since its establishment in 1985.

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