Steven Kwok has joined as head of Bear Stearns’and Eagle Investment Group’s Asian-based private equity effort.
In his new role, Kwok is responsible for managing the Strategic Alliance between Bear Stearns, Bear Stearns Merchant Banking and Eagle. The agreement, set up in early 2007, led to Bear Stearns and Eagle each pledging up to $250 million to invest together, for a total co-investment fund platform of up to $500 million.
The Strategic Alliance focuses on retail and consumer investment opportunities in China. BSMB is widely known for its experience investing in successful retail and consumer brands, including Aropostale, New York & Co., Seven For All Mankind and Stuart Weitzman.
Eagle’s operations span retail, real estate development, mineralization and investment. It owns GOME Electronics, China’s largest home appliance and consumer electronic goods retailer, and Zhongguanchun. The Strategic Alliance will make investments throughout Greater China and will be headquartered in Hong Kong with offices in China.
“Mr. Kwok, with his wealth of knowledge, multi-cultural background and experience in private equity in China, will enable the Strategic Alliance to capitalize on opportunities in China,” says Wong, founder, GOME Electrical Group and chairman of Eagle.
“Steven is a significant appointment for us. His joining our team demonstrates our commitment to support the Strategic Alliance and to build on our success in investing in China. I’m delighted that he has decided to join our effort and bring his deep China private equity investment management experience to the Strategic Alliance,” adds Donald Tang, vice chairman, Bear Stearns.
Kwok joins the Strategic Alliance after serving as managing director and a key senior management member at Orchid Asia, an independent China-focused private equity fund managing more than $450 million institutional capital.
Prior to his tenure at Orchid Asia, Kwok was the head of UBS Capital Greater China and focused on growth capital investments. He also worked at The Carlyle Group in Asia and at Salomon Brothers in New York. Kwok is a native of China and earned his MBA from the University of Chicago Graduate School of Business.