IB heavyweights launch private equity fund

David Olson''s Primus Pacific fund is targeting $1 billion.

David Olson, an ex-chairman of CSFB's Asia Pacific investment banking division, has established a private equity fund specializing in direct investments into Asian financial services companies. Primus Pacific, which has offices in Hong Kong and Chicago, is expected to launch its first fund with a target size of US$1 billion.

The new venture sees Olson teaming up with Guocang Huan, previously HSBC's head of investment banking in Asia, and Wing-Fai Ng, ex-head of strategy at Fubon Financial.

We see great investment opportunities ahead in the financial services industry in Asia, especially in Greater China, which we believe will be one of our most important...

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