Lazard Asia director departs

The move comes amid a flurry of multi-billion-dollar GP-led deal launches in the region.

A senior member of Lazard‘s Asia-Pacific private capital advisory team has left the firm.

Singapore-headquartered Dominik Woessner left in March to become a managing director at Thrive Alternatives, according to two sources familiar with the matter. His LinkedIn profile has been updated to reflect the change.

Secondaries Investor understands that Thrive is a private capital placement and advisory business.

Woessner, who declined to comment on his move, joined Lazard in 2018 after a decade with Greenhill. He had been head of the investment bank’s Asia secondaries advisory business since 2013, Secondaries Investor reported.

Fundraising delays, rising demand in China for US dollar commitments and a backlog of transactions that were disrupted by the pandemic are expected to bolster the number of GP-led secondaries deals coming to market in Asia during 2021, Secondaries Investor reported in February.

“A significant majority of the deals we did [in the second half of 2020] were GP-led situations – so fund restructurings or continuation funds – and there was one LP secondary,” said Brooke Zhou, a Hong Kong-based partner at LGT Capital Partners. “At least from the dealflow that we’ve seen, there were, and still is, a lot of GP-led situations and those tend to be sizable.”

There were at least four $1-billion-plus GP-led deals in the Asia-Pacific market as of early May and at least one $1 billion-plus portfolio, Secondaries Investor has learned.

Lazard did not return a request for comment.

– Alex Lynn contributed to this report.