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Affinity Equity Partners
Type Private Ownership
Founded 2002
Headquarters Flag of Hong Kong.svg Hong Kong
Flag of South Korea.svg Seoul
Flag of Singapore.svg Singapore
Flag of Australia.svg Sydney, Australia
Industry Private Equity
Products Private equity funds
Total assets $3.5 billion
Website www.affinityequity.com

Affinity Equity Partners is one of the largest dedicated Asian private equity firms and focuses on leveraged buyout and growth capital transactions. Affinity invests primarily in companies that produce consumer-related goods and services as well value-added manufacturing, healthcare, financial services, and business services companies.

Affinity typically invests in companies based in the Asia Pacific region with a focus on Australia, Greater China, Hong Kong, Japan, Korea, Singapore and Taiwan.

Affinity was founded by Kok-Yew (K.Y.) Tang and David Lai in 2002 The firm is headquartered in Hong Kong with offices in Seoul, South Korea, Singapore and Sydney, Australia.

History

The two founders of Affinity, K.Y. Tang and David Lai, joined UBS Capital in the mid-1990s. Affinity, founded in 2002, was originally known as UBS Capital Asia Pacific to serve as the Asian private equity arm of UBS AG. UBS Capital Asia Pacific was spun out as an independent firm in March 2004. In 2004, Affinity raised its first independent private equity fund, Affinity Asia Pacific Fund II, with $700 million of investor commitments. In 2007, Affinity raised its next fund Affinity Asia Pacific Fund III with $2.8 billion of investor commitments, which was the largest private equity fund raised to that point in Asia.[1]

Among Affinity's notable investments are the following:

  • Jaya Holdings – Affinity acquired a minority interest in Jaya, a Singapore-based offshore shipping and shipbuilding company, in 2006[5]
  • Mando Corporation - a Korean automotive parts manufacturer acquired by Affinity, together with CCMP Capital Asia in 2000 and sold in January 2008[6]

External links

References

  1. ^ Sibun, Jonathan "Former UBS team breaks Asia buyout record." Dow Jones Financial News, January 29, 2007
  2. ^ "Affinity's affinity for Colorado proof that private equity is mainstream player." The Age, July 19, 2006
  3. ^ Walker, Rupert. "Eugene closes $2.12 billion Himart deal." FinanceAsia.com, February 5, 2008
  4. ^ Kuo, Patricia and Chan, Cathy. "Buyout groups set sights on Himart." International Herald Tribune, August 21, 2007
  5. ^ Hardy, Alfean. "Sime Darby subsidiary to divest Jaya stake for RM700m." Edge Daily, October 20, 2006
  6. ^ "UPDATE 2-CCMP, Affinity sell S.Korea's Mando for $690 mln." Reuters, January 21, 2008
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