TED Forstmann, a principal with New York-based leverage buyout boutique Forstmann Little and Co, jokingly rejected suggestions recently that he surrendered his role as a high-flying deal-maker to sell corporate jets.
But while Mr Forstmann's four-day visit to Hong Kong involved discussions with a number of local investment firms, high on his agenda was making the rounds for Gulfstream Aerospace, the aircraft maker acquired by Forstmann Little from Chrysler in 1990 for US$850 million.
Mr Forstmann, whose firm made an unsuccessful takeover attempt for RJR Nabisco in the mid-1980s, attended the Asian Aerospace Show in Singapore earlier this month to promote Gulfstream.
With a highly competitive market for corporate aircraft in North America and Europe, Gulfstream views Asia as a potentially lucrative area for its products, which can cost up to $35 million.
Mr Forstmann said Gulfstream had already made strong inroads into Asia, including the sale of seven Gulfstream V aircraft, which can fly from Tokyo to New York without refuelling.
Mr Forstmann took an unusual step last November by becoming chairman of Gulfstream - the first executive title he claims to have held.
''At Gulfstream, a title is important because the sale of a $25 million piece of equipment starts at the flight department level and the user level - chief executives and heads of state. That's where I come in.'' The biggest buyers of corporate jets in Asia are governments - the Malaysian Government bought six last year. In Hong Kong, corporate jets are not even allowed to be based at busy Kai Tak airport.