David Shen Named Asia Head of Olympus Capital

TOKYO (Reuters) – Private equity firm Olympus Capital Holdings Asia said it has named David Shen, now in charge of its Japan business, to a newly created position as head of its Asian operations.

Shen, who will move to Hong Kong around July, will continue to lead the firm’s business in Japan, where it is planning to expand, Shen told Reuters on Monday.

“This decision is designed to allow us to take a more focused approach to leverage our regional platform,” Shen said.

Hong Kong-based Olympus Capital will focus on the environment, food, agriculture and natural resource sectors in greater Asia, while the firm has country-specific strategies that fit each market, he said.

In Japan, Olympus is pursuing transactions involving medium-sized companies looking to expand abroad as well as business owners having trouble finding successors once they retire, he said.

Since 1997, Olympus Capital has invested about $1.3 billion in about 30 portfolio companies across Asia, with a focus on China, India, Japan and South Korea.

Olympus Capital in 2008 sold its entire stake in Japanese agrichemical company Arysta LifeScience Corp to Permira [PERM.UL] for more than $2 billion after boosting the company’s value. (Reporting by Junko Fujita; Editing by Chris Gallagher)