Hong Kong’s 6th richest man Peter Woo’s family office reportedly eyes $1B private equity sale
The family office of Peter Woo, Hong Kong’s sixth-wealthiest individual, is reported to be exploring the sale of around US$1 billion worth of private equity stakes.
Peter Woo, Hong Kong's sixth wealthiest man with a net worth of US$14.6 billion, is reportedly considering the sale of his private equity funds to the tune of US$1 billion. The potential sale encompasses investments in China-focused firms like HSG, which was previously known as Sequoia Capital China, and tech investor Vista Equity Partners, according to Bloomberg's sources.
The proceedings are still at an initial stage, and the list of funds to be sold may evolve, the sources hinted. The transaction is being overseen by Wheelock Marden Capital, an investment arm of Woo's property firm Wheelock & Co. Woo, who once led Wheelock & Co. and its primary subsidiary Wharf Holdings until his retirement in 2015, claimed the sixth position on Forbes' list of Hong Kong's wealthiest individuals in February.
After retiring, he concentrated on managing his family's assets, which predominantly control Wheelock & Co., a conglomerate engaged in property, telecommunications, ports, and retail ventures. This includes the ownership of luxury department store chain Lane Crawford. Wheelock & Co. was taken private in 2020, and Woo's son, Douglas, now leads the firm.
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