ShawKwei Said to Target $800 Million for Fourth Fund in Asia

Tuesday, May 16, 2017

(Bloomberg by Cathy Chan) – ShawKwei & Partners, a Hong Kong-based private-equity firm, has secured more than $400 million in the first round of fundraising for its fourth fund in Asia, a person with knowledge of the matter said.

* The latest pan-Asia fund focuses on mid-market buyouts and expects to have a final close at $800m later this year, said the person, who asked not to be identified as the fundraising plans are private

* Kyle Shaw, a founder of ShawKwei, declined to comment

* NOTE: ShawKwei in February sold Yongle Tape, a Chinese industrial tape maker, to U.S. labeling and packaging company Avery Dennison

* That sale returned four times the investment made in Yongle by ShawKwei’s third fund, the person said

* NOTE: Shaw founded ShawKwei in 1999. Began his private equity career in 1989 when he founded Security Pacific National Bank’s Asian private equity business in Hong Kong. He then joined Tudor Investment Group in 1993 to open a Shanghai office managing the hedge fund’s proprietary investments in China.