Yi Luo joins CVC as China head

Luo joins the European-headquartered private equity firm from rival Blackstone.

Yi Luo has joined CVC Capital Partners from rival Blackstone as the private equity firm's head of China, according to CVC’s website.

Luo, who was previously based in Shanghai but will now be based in Hong Kong, was a senior managing director at Blackstone, overseeing its private equity investments in China.

He was also chairman of Blackstone's renminbi fund and initially reported to Michael Chae, who returned to New York in 2014.

A spokesperson for Blackstone contacted by FinanceAsia declined to provide details of any of the deals that Luo either led or was involved in.
Blackstone, which sealed a deal to buy Nasdaq-listed China-headquartered Pactera Technology International in October 2013, hired Liping Zhang as its greater China chairman in July 2015 and had Ed Huang sharing duties with Luo following Chae's departure.

Before joining Blackstone in 2012, Luo was a partner at the Carlyle Group and head of its China office.

Luo worked for Carlyle in Shanghai and Hong Kong for more than eight years as a senior global partner and managing director within their Asia private equity team.

He was a member of Carlyle’s Asia investment committee and chairman of both Carlyle’s renminbi fund and its operating entity in China.

He previously also worked with Merrill Lynch as an investment banker, Goldman Sachs, both in its principal investing area and its Asia special situations group, and the People’s Bank of China.

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