People Digest: Ex-Blackstone exec joins GLP China; CEC Capital names partner

Tim Wang, co-president of GLP China's logistics and industrial real estate business (left); Zhang Xiao, partner at CEC Capital (right)

Tim Wang, a former senior managing director at Blackstone Group, has joined the China team of Asia’s biggest warehouse operator GLP, while China’s CEC Capital has promoted Zhang Xiao to partner.

Ex-Blackstone China real estate head Tim Wang joins GLP China

Tim Wang has joined the China team of warehouse operator GLP as its co-president of logistics and industrial real estate business after spending 10 years at buyout major Blackstone.

Wang will be responsible for co-leading the growth and strategy of GLP China’s logistics and industrial real estate business, which also includes collaborations with the firm’s strategic partners, the firm announced on Thursday.

He will work alongside Angela Zhao, who is in charge of planning and design, marketing and public relations for GLP’s real estate business in China. Zhao also spearheads the GLP I-Park business, a project of nearly 30 logistics parks across over 30 Chinese cities including Beijing, Shanghai, Shenzhen, and Hangzhou.

At Blackstone, Wang was involved in deals including the $400-million purchase of a 40% stake in SCP Co, a Shenzhen-based shopping mall developer, and the $1.2-billion acquisition of a Shanghai mall and office towers from Singapore’s Mapletree Investments Pte. Prior to Blackstone, he worked at Bank of America Merrill Lynch’s real estate principal division in China.

GLP is a global investment manager and business builder in logistics, real estate, infrastructure, finance, and related technologies. The firm operates across Brazil, China, Europe, India, Japan, the United States, and Vietnam with over $100 billion in assets under management (AUM) in real estate and private equity.

In China, GLP signed 18.7 million sqm (201 million sq ft) of leases in 2020, up 53% over 2019, as the pandemic accelerated the shift towards e-commerce and digital solutions “by at least two to three years,” the firm said in its latest financial results.

CEC Capital promotes new healthcare-focused partner Zhang Xiao

CEC Capital, a Beijing-based investment bank that specialises in the TMT, consumer, and healthcare sectors, has promoted its healthcare-focused managing director Zhang Xiao to its eighth partner less than five years after he joined the company.

In a statement, CEC Capital said that Zhang has by far facilitated over 30 deals with total deal value amounting to more than $4 billion since he joined the firm in December 2016.

Some of the highest-profile deals that he participated in include the 925-million-yuan Series C round in Shanghai Cell Therapy led by investors including China Pacific Insurance; a 670-million-yuan investment in precision medicine firm 3D Medicines led by a fund backed by China Reform Holdings Corporation Ltd; and an $80-million Series B round in China-US oncology therapeutics startup Oncologie.

Before CEC Capital, Zhang served as an investment director and partner at E&H Capital in Beijing. Prior to that, he spent two years working as an investment manager at China Securities, an investment bank and brokerage firm also known as CSC Financial, according to his LinkedIn page.

Founded in 2000, CEC Capital is one of the most active investment banks in China with offices in Beijing, Shanghai, Los Angeles, and San Francisco. With a team of over 100 professionals, the firm has successfully advised on over 400 transactions worth a total of more than $40 billion, shows the firm’s website.

CEC Capital also has an asset management business, under which it manages an RMB-denominated fund and a US dollar fund with total AUM of close to $500 million.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.