Asia’s largest healthcare investment firm, CBC Group, has appointed ex-investment banker Billy Cho as its new senior managing director of private equity and co-head of joint value creation, according to an announcement on Monday.
Cho, who has over two decades of industry experience, will be based in Hong Kong for the role.
He was most recently chief financial officer at Zai Lab, a China and US-based biopharmaceutical company. Prior to that, he was managing director and head of Asia healthcare investment banking at Citigroup for over six years.
Cho will provide guidance on the firm’s private equity investments and its portfolio management activities as part of the joint value creation team, the statement said.
Headquartered in Singapore, CBC manages assets of over $7 billion. It primarily focuses on buyouts, private credit, venture, and real estate strategies across the pharmaceutical, biotech, medical technology, and healthcare services sectors.
The Asian healthcare investment firm has over 150 employees across 12 locations globally, including Beijing, Hong Kong, Seoul, Shanghai, and Singapore.
Earlier this year, it co-led a $315 million investment in China’s Hasten Biopharma alongside Abu Dhabi sovereign wealth fund Mubadala.
Last year, CBC reportedly surpassed its target for a new fund aimed at China’s middle- and late-stage growth investments and buyouts. The fund, C-Bridge Healthcare Fund V, saw over $1.5 billion in capital commitments.