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PRINT THIS PAGE Adveq to open office in China23/10/2007. Source: AltAssets. 
Private equity fund of funds manager Adveq plans to open an office in Beijing later this year. The new office will be Adveq's fourth - the firm already has operations in Zurich, Frankfurt and New York. The US presence was established in summer 2007. Adveq has been an active player in Asia. More than 20 per cent of the firm's fund commitments over the past 12 months have been in the Asia Pacific region, according to a statement.
Adveq CEO Bruno E Raschle said, 'Since inception, Adveq has pursued an international investment philosophy based on global benchmarking of fund managers in a world without walls. The opening of the new China office is a natural consequence of the importance of the Asia Pacific region and the continuing expansion of Adveq's business. It reflects the overall growth of the company in terms of the increased size of the team, which today includes over 50 international professionals, and our growing number of fund programmes.'
Peter Laib, managing director at Adveq, added, 'Adveq believes that private equity managers will continue to play an important role in the growth and transition of European companies, thus shaping the future of the European business world. There is strong potential for smaller or mid-sized buy-outs in Europe due to a number of larger corporations being in need of strategic repositioning, and many smaller, family-owned businesses for whom private equity presents a perfect solution to their succession issues. The European private equity market has been traditionally biased towards these segments and has therefore been less dependent on the credit market.'
Adveq manages approximately $3bn of assets for its clients. The firm was founded in 1997.
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