Denis Tse, formerly a senior vice president at Hong Kong-based CDIB Capital, has joined Lockheed Martin Investment Management (LMIM) as the head of private investments for Asia.
Tse worked previously for CDIB Capital, an affiliate of Taiwan-based China Development Financial, where he was involved primarily in making private equity fund investments and co-investments.
Tse will continue to be based in Hong Kong, where LMIM had originally set up an office in 2008 for investments in public equities. The company is looking to invest more actively in the Asian private equity and private equity real estate markets, Tse said in an interview.
In his new role, Tse reports to Maria Kozloski, the head of private markets at LMIM, who is based at the company's headquarters in Bethesda, Maryland. He will oversee primary investments in private equity as well as private equity real estate funds investing in the region.
Thus far, LMIM has made commitments to only a handful private equity funds investing in Asia and has made no direct fund commitments to private equity real estate funds investing in the region.
What percentage of LMIM’s investment portfolio will be allocated to Asian private equity and real estate has not been determined yet. Tse said that the company will decide on what it wants to do in Asia with respect to investment pace and investment size. “This is a relatively new initiative, so we are still in the process of finalising our strategy in Asia,” he added.