Singapore-based managing director with PAG Timothy Zee has left the private equity firm after a 10-year stint. Meanwhile, Lendor, a Singapore-based circular tech startup, has roped in Jo Olivia Lee as its chief operating officer.
Singapore-based Timothy Zee leaves PAG
Singapore-based managing director with PAG Timothy Zee has left the private equity firm after a 10-year stint, AVCJ reported.
Zee joined the firm at the end of 2011 where his primary responsibilities included deal sourcing and business development.
Prior to joining PAG in 2011, Tim held senior positions in direct investments, structured finance and investment banking with major global financial institutions including Barclays Capital, Salomon Smith Barney, GE Capital and Bank of America.
PAG is an Asia-focused investment firm with funds under management across private equity, real estate and absolute return strategies.
PAG, in May, raised over $2 billion for its fifth direct lending fund, PAG Loan Fund V, per a filing with the US Securities and Exchange Commission (SEC).
Its predecessor fund was closed at a hard cap of $1.5 billion in September 2020, which was higher than the initial $1-billion target. The third lending fund was closed at a hard cap of $950 million in May 2018, while Fund II raised over $800 million in 2014.
Singapore’s Lendor appoints COO
Lendor, a Singapore-based circular tech startup named Jo Olivia Lee as its chief operating officer (COO) who will be responsible for the continuous development of the app, platform services, and infrastructure, according to a report on TechInAsia.
In this role, she will be overseeing administrative and operations for both the Singapore office and the recent launch of Lendor Thailand.
Before joining Lendor, Lee was the vice president of customer experience at Citi. Earlier, she also co-founded Foodpanda Logistics, leading the regional expansion for Southeast Asia till 2018.
Founded in 2020, Lendor is an on-demand rental platform for electronics devices. It helps businesses monetize their idling inventory while allowing customers to use tech products without having to purchase them.