CP Eaton builds out with Love in Shanghai

Rowayton, CT-headquartered independent placement agent CP Eaton Partners has announced the appointment of David Love, Equity Member and Managing Director at the firm, to the post of Head of Asia Pacific.

Love will move to Shanghai, where he will be overseeing the existing team, including Jingjing Bai, recently made Senior VP and VP Kah-Yi Chung, who will now also be covering distribution to Singapore, Korea and Taiwan.

“We consider the Asia Pacific  region to be extremely important: there’s an extremely interesting dynamic in the region.” Love told AVCJ. “It’s the GPs that are  developing in the region that are interesting to us; and the nascent but  growing LP base.”

According to CP Eaton’s materials, the firm has raised $31 billion in 54 funds since its foundation in 1983, and currently has 11 funds in the market. Love  instanced a firm-wide preference for real asset funds (including  infrastructure), renewable energy, Asia-focused vehicles and distressed  debt.

Love described the current  global LP base as “dominated by the US, then Europe, then Asia. But Asia  is growing, and the rest of the world is stagnant, at least recently, [Asia] becomes a more importante LP target base.”

CP Eaton was a pioneer among  placement agents in building an Asian presence, opening its Shanghai  office in 2007 (see AVCJ Jun 4, 2007)

In Love’s view, both Asian GPs  and LPs are looking for support from CP Eaton “as much of as an advisor as a fundraiser. The two are inextricably tied, but they are looking for someone that can really consult for them. That was why it was important  to allocate one of our senior people to the region.”

Love has held his present title at CP Eaton for over ten years, and has been working in the investment  management industry for over 40 years, including a significant period as an analyst and Senior VP at HC Wainwright & Co.

Regarding the new breed of Asia  Pacific institutional investors, “we really don’t see a vast difference  in the approach and psychology of the Asian LPs versus the US and European LPs.” Love told AVCL. “They’re just newer to this world, and their programs are less mature. Psychologically, they’re the same beast.”

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