CVC Capital Said to Poach Top HSBC Southeast Asia Dealmakerby
Lim to start work next month at Europe's biggest buyout firm
CVC announced $1.5 billion of Southeast Asia deals in 5 years
Lim, who was a managing director and head of Southeast Asia banking advisory at HSBC, will start work at CVC Capital next month, according to the people. He will focus on investments in Singapore and Malaysia, the people said, asking not to be identified because the information is not public yet.
The London-based buyout firm, one of the most active investors in Southeast Asia, has announced $1.5 billion of deals in the region over the past five years, according to data compiled by Bloomberg. Its biggest transactions include last year’s sale of its stake in Singapore’s Interplex Holdings Ltd. to Baring Private Equity Asia in a $320 million deal, as well as CVC’s purchase of the business process outsourcing businesses of Philippine Long Distance Telephone Co. for $300 million in 2013.
CVC raised $3.5 billion for its fourth Asia Pacific fund in 2014. Lim will fill a position vacated by Fock Wai Hoong, who left CVC and joined General Atlantic LLC last year. CVC and HSBC declined to comment in e-mailed statements.
HSBC ranked ninth among advisers on Southeast Asia mergers and acquisitions last year, up from 19th in 2014, data compiled by Bloomberg show. Last year, the bank was among advisers to CMA CGM SA on its $2.4 billion takeover bid for Singapore’s Neptune Orient Lines Ltd. It advised Metro AG on the sale of its Vietnam wholesale business to Thailand’s TCC Holding Co. for 655 million euros ($752 million), which was completed in January, according to the data.