Deutsche Bank’s Asia secondaries head has moved to Singapore from Hong Kong to be closer to the bank’s private equity team based there, Secondaries Investor has learned.
Jason Sambanju relocated to the city state at the beginning of the year after spending two years in the bank’s Hong Kong office. Sambanju moved because it made sense for him to be with his DB Private Equity colleagues in the Deutsche Asset & Wealth Management unit.
“As we thought about how to position ourselves in the market, if you look at the hubs of limited partners in the region it’s really three countries where you’re going to see LP portfolio dealflow coming from: Japan, Singapore and Australia, where most LPs in this region are based.”
Singapore is the regional hub for several other firms which invest in secondaries including Axiom Asia Private Capital and Asia Growth Capital Advisors. Investment bank Greenhill Cogent‘s Asian secondaries advisory business is also based in Singapore.
Sambanju, who was previously a managing director at Paul Capital Partners in Hong Kong where he spent over six years, joins one other secondaries staff member in Deutsche’s Singapore office.
DB Private Equity is currently investing out of its 2014-vintage DB Secondary Opportunities Fund III, which beat its $1 billion target to close on $1.7 billion, according to PEI Research & Analytics.