Providence Equity Partners is the latest US private equity firm to expand in Asia. The group has hired Rothschild’s top banker in the region and will open new offices in Hong Kong and New Delhi. Andrew Rickards — a former Goldman Sachs media and telecoms banker — will be based in Hong Kong and lead the Asian effort while Biswajit Subramanian will head the Indian office. Providence is raising a new global fund worth up to $12bn for investments in media and telecoms companies. British private equity firm CVC Partners is heading in the other direction. The Times reports that CVC has poached Chris Stabler, the head of Investcorp’s private equity business in New York, to spearhead a push into the US.

This entry was posted by Helen Thomas on Monday, January 22nd, 2007 at 5:17 and is filed under People, Private equity. Tagged with andrew rickards, chris stabler, cvc, providence. Edit this entry.