Wave of Hong Kong openings by Western investment firms continues with Adams Street
‘We want to be closer to both our investors and the investment opportunities that are presenting themselves here,’ managing partner says
Chicago-based Adams Street Partners launched its Hong Kong office on Monday, joining a wave of Western investment firms setting up to take advantage of the city’s position as a gateway to international capital and cross-border deal making.
“There’s an increasing number of private equity firms, growth equity [and] venture capital, that have a reason to be here in Hong Kong – kind of a Hong Kong nexus,” said Jeffrey Diehl, the firm’s managing partner and head of investments, in an interview.
With more companies establishing a presence in Hong Kong, either by setting up operations or preparing to list on the city’s stock exchange, opening an office in the city made sense, he added. “We want to be closer to both our investors and the investment opportunities that are presenting themselves here,” he said.
The office, to be staffed by three investment professionals, joins a worldwide network of 15, including Asia-Pacific locations in Beijing, Seoul, Singapore, Sydney and Tokyo. Globally, the firm manages US$65 billion in assets.