New | Valencia owner Peter Lim recruits LVMH dealmaker
Peter Lim expected to diversify assets with hiring of dealmaker to run investment unit
Singapore tycoon Peter Lim has hired Christina Teo from LVMH Moet Hennessy Louis Vuitton's private equity arm to run a new investment unit, sources said.
Teo, who was a managing director at L Capital Asia, joined Lim's Singapore-based Catpital last month as chief executive, the sources said.
She would source overseas investments for Lim, as well as increase value at some of his portfolio companies, one of the sources said.
Lim, a former stockbroker who owns Spain's Valencia soccer team, made his fortune through holdings in palm oil producers and a chain of Manchester United cafes in Asia. He also has stakes in supercar maker McLaren Automotive, Singapore property developer Rowsley and security provider Soverus Group.
"Peter has made Singapore look good in terms of the deals he has done, for the prestige and soundness of the investments he has made," said Kelvin Tay, a money manager at UBS Group's wealth management arm. "He just wants to diversify his portfolio, and he's in it for the long term."
Catpital might seek investments in Europe, where valuations have fallen, focusing on industries where Lim had experience such as sports, cars, health care and hospitality, a source said.