LDC expands into Asia

UK-focused private equity firm LDC is opening an office in Hong Kong. Its expansion into Asia represents a new strategy for LDC, the private equity firm owned by UK bank Lloyds TSB, as it has formerly solely concentrated on completing buyouts and growth capital deals in the UK.

Similarly, UK-focused lower mid-market buyout firm NBGI Private Equity has opened an office in France. The firm has recruited Didier Riebel and Laurent Allegot, from New Bridge Partners and Natixis Private Equity respectively, to head up the new office.

LDC’s Hong Kong office will initially help LDC portfolio companies to expand in Asia by opening cheaper manufacturing operations and selling products into new markets. The second phase of LDC’s plan is to start making investments directly in Asia alongside local private equity firms there.

NBGI Private Equity intends to start completing deals straight away. From their base in Paris, the two new recruits will complete small buyouts and growth capital deals investing equity of between €3m and €15m per transaction.

LDC’s Hong Kong presence will later be joined by offices in Mainland China and India. The Hong Kong office is due to open in the next few months, with a team of six already recruited. LDC is also said to be planning an office in the Netherlands.