Ex-MBK co-founder launches new buyout fund Nexus Point Partners

MBK Partners' founding partner Kuo-Chuan Kung

Leading Chinese deal-maker Kuo-Chuan Kung is setting up a new buyout focused private equity firm Nexus Point Partners, after leaving MBK Partners, another firm he co-founded, the Wall Street Journal reported.

The firm that is being set up in Hong Kong, is being joined by Richard J. Wong, formerly Morgan Stanley’s co-head of mergers and acquisitions in Asia, and Min Li, who until recently led Bain Capital Asia’s health care practice, the report added, quoting people familiar with the developments.

According to Min Li’s LinkedIn profile he is currently at Nexus Point Partners as a Partner.

Kung resigned from Korea-based MBK Partners as a Partner in October last year. MBK Partners is among Asia’s leading regional private equity firms, and Kung was leading MBK’s investments in China, Taiwan, and Hong Kong. With 25 portfolio companies at the moment and a capital under management at $10.1 billion, MBK has an exclusive focus in the North Asia — Greater China, Japan and Korea markets.

The newly found PE firm currently does not have any further details or a website and it is not known about the fund targets as well.

However, the partners at the new firm are well known China-based financiers who have also launched funds, including KKR & Co’s former China head David Liu.

Off late, there have been a string of private equity and investment executives and financiers from the region– mainly China, who have raised their own funds in a bid to get more control on the type and size of investments.

At MBK, Kung had led the buyout of China Network Systems which is Taiwan’s largest cable-television operator. He also invested in Chinese waste-to-energy business GSE Investment Corp from MBK’s fund MBK Partners II, selling it later in December 2014.

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