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Private Equity Asia

PE Asia focuses on private equity investments in the Asia Pacific region through funds, direct investments and secondaries.

  • For funds, we seek multi-year commitments to pan-Asian and country-focused private equity funds in China, Japan, Korea, India, SE Asia and Australia. We target a minimum fund size of US$500 million and a minimum commitment size of US$75 million;
  • For direct investments, we invest in private Asian companies alongside private equity fund partners (GPs) and certain qualified non-GP partners. The minimum investment size is US$25 million for co-investments, US$150 million for co-sponsorships, and US$300 million for transactions with qualified non-GP partners; and
  • For secondaries, we acquire single- or multiple-fund limited partnership interests or investment portfolios through the secondary market with a minimum investment size of US$25 million for LP Secondaries and US$100 million for Direct Secondaries.

Our Team

The PE Asia team comprises over 30 experienced professionals with offices in Hong Kong and Mumbai. Here is a listing of all our senior team members.
Hong Kong

Frank Su

Managing Director, Head of Private Equity Asia

Frank is responsible for leading our private equity business in Asia.

Prior to joining CPP Investments in 2014, he was a Principal at Bain Capital, responsible for private equity investments in Asia, with a focus on Greater China. Before that, he was a manager at Bain & Company and worked at Ericsson as a Business Development manager, and at COFCO as a trader.

Frank holds a BA from the University of International Business and Economics in Beijing and an MBA from the Kellogg School of Management at Northwestern University.

Yang Fan

Managing Director, Private Equity

Yang focuses on direct private equity investment opportunities in Asia.

Yang was previously a Managing Director at CITIC PE, focusing on Private Equity investments in financial services, software technology, and business services in China for 10 years. Before that, Yang worked with International Finance Corporation (“IFC”), Deloitte, ABN AMRO Bank, and Standard Chartered Bank in China. He is a CFA.

Yang holds a Bachelor of Economics from Tianjin University of Finance and Economics, a Master of Economics from Macquarie University, and an Executive MBA from Tsinghua University.

Jason Hu

Managing Director, Private Equity

Jason focuses on direct private equity investment opportunities in Asia.

Prior to joining CPP Investments in 2014, he worked at J.P. Morgan in the Global Special Opportunities Group in Hong Kong and the Mergers & Acquisitions Group in New York. Before that, he was a consultant at Oliver Wyman in New York and Charles River Associates in Boston.

Jason holds a BA in Mathematics, Computer Science, and Economics from Connecticut College and an MBA from Harvard Business School.

Richard Law

Managing Director, Private Equity

Richard focuses on private equity fund commitments and secondaries in Asia.

Prior to joining CPP Investments in 2007, Richard worked in investment banking at CIBC World Markets and TD Securities.

He holds a BComm from the University of British Columbia and an MBA from the MIT Sloan School of Management.

Jung Yup (JY) Lee

Managing Director, Private Equity

Jung Yup focuses on private equity investment opportunities in Asia.

Prior to joining CPP Investments in 2016, he was a Partner and Head of Korea at Headland Capital Partners, where he was responsible for private equity investments, primarily in Korea, and was also a member of the investment committee. He began his career with H&Q Asia Pacific Korea in Seoul.

Jung Yup holds a BSc in Mechanical and Aerospace Engineering from Seoul National University.

Rachel Zhao

Managing Director, Private Equity

Rachel is leading direct investments with a focus in the Greater China region.

She was previously a Director at MBK Partners, responsible for private equity investments with a focus on Greater China for 13 years. Before MBK Partners, Rachel worked in the investment banking division of both Citigroup in Hong Kong and China International Capital Corporation in Beijing.

Rachel holds a BSc in Economics from the London School of Economics.

Prakul Kaushiva

Managing Director, Private Equity Asia

Prakul leads CPP Investments’ direct private equity business in India.

Prakul joined CPP Investments in 2012, where he started out in the London-based Infrastructure team within Real Assets. He subsequently moved to the direct investment team in Private Equity Asia, where he worked in the Hong Kong office for a number of years, before relocating to his current role in Mumbai in 2022. Prior to CPP Investments, Prakul worked at Goldman Sachs in the Technology, Media and Telecom M&A group and subsequently in the Securities Division. Prakul has also worked at General Electric in the US and India.

He holds a BTech in Technology in Mechanical Engineering from the Indian Institute of Technology, Delhi, and an MBA from the Indian Institute of Management, Ahmedabad, with a focus on General Management and Finance.

Our Private Equity Investments

We are invested globally in funds, secondaries and directly in private equity.
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