Saturday, 23 July 2016
Last updated 13 hours ago
Dec 13 2007 | 10:37am ET
Bear Stearns and Eagle Investment Group, a Chinese investment firm, said that Steven Kwok has joined as the head of their Asian-based private equity joint venture. In his new role, Kwok is responsible for managing the joint venture between Bear, Bear Stearns Merchant Banking and EIG.
Kwok joins the strategic alliance after serving as managing director and a key senior management member at Orchid Asia, an independent China-focused private equity fund managing more than US$450 million institutional capital.
Prior to his tenure at Orchid, Kwok was the head of UBS Capital Greater China and focused on growth capital investments. He also worked at The Carlyle Group in Asia and at Salomon Brothers in New York.
Wong Kwong Yu, chairman of the Eagle group, said, "Mr. Kwok, with his wealth of knowledge, multi-cultural background and experience in private equity in China, will enable the Strategic Alliance to capitalize on opportunities in China."
Through the joint venture, set up in early 2007, Bear Stearns and Eagle each pledged up to US$250 million to invest together, for a total co-investment fund platform of up to US$500 million. The joint venture focuses on retail and consumer investment opportunities in Greater China and will be headquartered in Hong Kong with offices in China.