Probitas Partners has opened its first office in Asia, a planned move first reported in March 2008 by PERE's sister publication Private Equity Online.
Former AIG Investments executive Edwin Chan will lead the Hong Kong office, managing limited partner relationships, sourcing new general partner clients and facilitating secondary sales activities.
At AIG, Chan was an associate director for business development in Hong Kong and focused on private equity, real estate and hedge fund of funds investments.
Michael Hoffman, the firm’s San Francisco-based co-founder, told PEO last year the firm would establish a presence in Asia and the Middle East.
Though Probitas has offices in San Francisco, New York and London, Hoffman noted that Asia and the Middle East were clearly areas where the firm needed dedicated staff “to provide enhanced, on the ground service in placement, liquidity management and portfolio management to a growing base of important investors there, including sovereign wealth funds and others who we continue to do more and more work with as the private equity and hard asset investor markets continue to expand”.
In January, placement agent CP Eaton expanded its Shanghai office with the hire of Alex Edwards as vice president. Edwards will lead the firm’s development in South Asia, New Zealand and Australia.