UPDATE 1-UK's 3i Group hires Paul Su as senior partner for China

* Su is the latest investment banker to join private equity in China

* China accounted for 20 pct of regional private equity buyouts in H1 (Adds details)

By Stephen Aldred

HONG KONG, July 20 (Reuters) - UK-based private equity firm 3i Group Plc said it hired Paul Su from Credit Suisse as a senior partner for 3i China.

Su is the latest name to leave investment banking for a senior private equity role, as global buyout firms look to strengthen their deal teams in China.

China accounted for $3.7 billion, or 20 percent, of Asia's private equity buyout transactions in the first half, according to Thomson Reuters data, and private equity firms are hunting for dealmakers to clinch assets in a competitive market.

Global buyout firm TPG Capital in May hired Chinese dealmaker Steve Sun from Goldman Sachs , as it set about rebuilding a team depleted by departures of high-profile executives Weijian Shan and Mary Ma, who left to form their own funds.

Su, a former managing director and vice-chairman of Greater China investment banking at Credit Suisse, will be responsible for investment origination and execution.

Based in Beijing, he begins his new role on Sept. 1 and reports to 3i's chairman for Asia and the Americas, Bob Stefanowski.

Su was with Credit Suisse for 10 years, where his previous roles included head of China industrials and head of China energy in the investment banking department.

At Credit Suisse he worked on capital markets, restructuring and M&A assignments for companies including China National Offshore Oil Corporation, Shanghai Electric Group Co Ltd and Chongqing Machinery & Electric Co Ltd .

3i's China team includes partners Albert Xu and Anna Cheung. The firm has had a presence in China since 2001 and has offices in Beijing, Shanghai and Hong Kong. (Editing by Lincoln Feast and Vinu Pilakkott)