C.P. Eaton Partners, a Connecticut-based fund placement firm, has launched a dedicated practice for raising renminbi-denominated funds. It will be led by new hire Eric Gu, who will serve as a Shanghai-based vice president. Gu previously was with the China National Social Security Fund.
C.P. Eaton Partners announced today that it has launched a dedicated effort to enable all of its current and future general partners access to renminbi (RMB) capital sources within mainland China. In conjunction, C.P. Eaton announces the hiring of Eric Gu as vice president to lead the effort from the Firm’s Shanghai Representative Office.
C.P. Eaton is developing the RMB fundraising capacity for both western-based fund managers and Chinese domestic fund managers in the alternative investment space. C.P. Eaton believes interest in RMB funds will certainly continue to grow given the ongoing development of China’s capital markets and the anticipated strengthening of the RMB against the U.S. dollar. The number of RMB funds and amount of capital raised increased sevenfold from 2006 to 2009, according to Zero2IPO.
David M. Love, who oversees C.P. Eaton’s Asia operations, said, “C.P. Eaton is a first-mover in the Asian market. We are the first among global placement agencies to launch an RMB fundraising platform, just as we were the first placement agent to open a representative office in the PRC in September 2007. Charles P. Eaton, Founder of C.P. Eaton continued, “We raised our first Asia-based Private Equity fund in 1994 and have grown in the region commensurately as the region itself has grown. We view the RMB platform as an important evolutionary step in our continued dedication to the region, and welcome Eric Gu to the firm to lead the effort.”
Mr. Gu joined C.P. Eaton in April and reports to Ms. Jingjing Bai, who heads the Firm’s Shanghai Representative Office. He comes to C.P. Eaton from the China National Social Security Fund (CNSSF), which was formed in 2000 to help fund future pension liabilities and increase social security benefits within the PRC. Mr. Gu helped design the overseas alternative investment strategy for CNSSF, and participated in the manager selection process with regard to private equity, real estate, infrastructure and hedge fund strategies.
Mr. Gu previously worked in the Business Development & Innovation Department of the Import-Export Bank of China, and served as a consultant to The World Bank in Beijing. He has a Bachelor of Arts degree in English Language and Literature, and a Masters of Management in Regional and Industrial Economics from Tsinghua University in Beijing.
Mr. Gu said, “The Chinese investment market is undergoing a rapid transformation and institutionalization process. This represents an incredible opportunity to bring investors and investments together. I’m excited to be joining C.P. Eaton, a Firm that is fostering this healthy and growing relationship.
Additional Information About C.P. Eaton Partners, LLC
Founded in 1983, C.P. Eaton Partners, LLC is one of the most experienced global placement agents in the world. Raising institutional capital is the firm’s only business. C.P. Eaton’s normal calling universe is limited to large institutional investors with a desire to invest relatively large amounts of capital. The firm’s average commitment is $50 million. Partnering with a select number of the highest-quality fund managers, C.P. Eaton has worked with some of the most innovative funds of the last two decades. With extensive institutional relationships, deep sector knowledge, fresh insights and a partner-driven approach, C.P. Eaton is dedicated to every client’s success.
C.P. Eaton works with established managers and first-time managers, many whose professionals have emerged from larger asset managers and have become successful brands themselves. Over the past five years, C.P. Eaton has established itself as one of the leading placement agents in Asia, and is one of the first placement agents to have opened a representative office in Mainland China (Shanghai, September 2007). The firm actively represents a range of Asian strategies and has also penetrated the Asian limited partner base in its cross-selling efforts. In addition, over the past 10 years, the firm has developed a strong reputation in the area of real assets, inclusive of: energy (both traditional and renewable), natural resource and infrastructure strategies.