Ascent Capital has appointed Stanley Kyaw Khaing and Yeo Chee Kian as managing partners, while Temasek Holdings has named Ann-Marie Wun as operating partner.
Ascent Capital appoints new managing partners
Myanmar-focused private equity firm Ascent Capital Partners has named Stanley Kyaw Khaing and Yeo Chee Kian as its managing partners as it aims to accelerate the pace of investments in 2021.
Stanley is a Myanmar-born legal professional with over 13 years of experience in the country and North America. He was previously director, corporate affairs and planning at a telecommunications infrastructure company.
Chee Kian, meanwhile, has over two decades of experience in financial services, where he has worked for HSBC, Macquarie, Deutsche Bank and Temasek in the financial centres of London and Singapore.
He has extensive experience in investments and portfolio management, with deep knowledge of sectors such as transport, logistics and infrastructure.
These appointments are in line with Ascent Capital’s strategy to see logistics emerge as a new sector for 2021-2022, adding to its current five core sectors – consumer, education, financial services, healthcare, and telecommunications, media, and technology.
“The addition of Stanley and Chee Kian completes Ascent Capital’s team-building process, which we began in 2019. With the perspectives and the expertise that they offer, we look forward to stepping up our investment pace in 2021, as well as expanding our focus in the logistics sector,” said Ascent Capital Partners founder and managing partner Lim Chong Chong.
Ascent Capital Partners is a private equity firm headquartered in Singapore and registered with the Monetary Authority of Singapore. The firm manages a Myanmar-focused investment fund – Ascent Myanmar Growth Fund I LP. (AMGF).
Ascent Capital in November last year held a final close of its debut fund, Ascent Myanmar Growth Fund I, at $88 million, after collecting over $80 million by June.
Temasek appoints impact investor as operating partner
Singapore state investor Temasek Holdings has named Ann-Marie Wun as an operating partner, according to a report by Eco-Business, Asia Pacific’s media organisation on sustainable development.
Wun, who joined Temasek last month, is an investment banker and impact investor with 16 years of experience in areas of banking, private equity, and impact investing.
In this new role, she will be a part of a team to support Temasek’s sustainability efforts. She had previously worked as a senior investor for UBS, Deutche Bank and Pacific Star Group.
In October last year, Temasek set up a new asset management group Seviora Holdings that will have assets under management (AUM) worth S$75 billion ($55 billion).
Seviora will be set up as a holding company combining Temasek’s four existing asset management companies, Azalea Investment Management, Fullerton Fund Management Company, InnoVen Capital and Seatown Holdings International.
Temasek director Goh Yew Lin will be appointed as the chairman of the newly-formed Seviora.