China Renaissance hires former CIC private equity head Wang Ou

HONG KONG (Reuters) - China Renaissance Holdings Ltd 1911.HK said it has hired Wang Ou, former private-equity investment head of sovereign wealth fund China Investment Corp (CIC), as its strategy consultant.

Wang, also a former official at China’s securities regulator, will concurrently serve as a board director of China Renaissance’s onshore securities joint venture - Huajing Securities, the investment bank said in a statement on Thursday.

The move comes days after China Renaissance, one of the major players in the country’s buoyant technology sector, announced the final close of it latest yuan-denominated fund of over 6.5 billion yuan ($923 million).

During his tenure at CIC, Wang led the sovereign wealth fund's investments in over 100 private equity funds and private credit funds worldwide such as U.S. buyout firms KKR KKR.N and Blackstone BX.N, as well as its several direct investments.

Prior to joining CIC in 2015, Wang spent 13 years at the China Securities Regulatory Commission in several roles, including deputy head of innovative business supervision.

Reporting by Julie Zhu; Editing by Himani Sarkar