TAIPEI, Taiwan — October 18, 2019 — China Development Financial announced in 2H19 investor conference that its subsidiary CDIB Capital Group (“CDIB”) has achieved $41.1 billion new Taiwan dollars ($1.34 billion) in AUM of its private equity funds at end-September, successfully transforming its proprietary investment business into an asset management model. Recently, the CDIB board appointed Angelo J.Y. Koo as chairman to lead CDIB towards a global asset management brand.
CDIB has been focused on expanding global investment portfolio, the newly launched “CDIB Intelligence Partners Fund” as an example. On a projected scale of up to $75 million, the fund is actively seeking institutional investors in telecom, retail, technology and financial service sectors, targeting at global AI-related investment opportunities.
Effective since October 1, the CDIB Board appointed Angelo J.Y. Koo chairman succeeding Chia-Juch Chang, who remains chairman of CDF. Prior to his appointment, Koo held the roles of president and CEO of CDF, and chairman of China Development Industrial Bank (predecessor of CDIB) from 2004 to 2009. Koo is currently chairman of the CDIB Education and Cultural Affairs Foundation.
CDIB will be leveraging Koo’s global investment network and industry insights to lead CDIB’s continuous expansion. Besides, the company will also benefit from his philanthropic experience to further shoulder CDF’s corporate social responsibilities.
Since its inception in 1959, CDIB has played a critical role in funding Taiwan’s economic development by investing in various industries, including textile, petrochemical, electronics, semiconductors as well as in the consumer, and healthcare sectors. Through its investment activities, CDIB has been a pioneer in Taiwan’s venture capital and has established itself as an important contributor to Taiwan’s economic transition and industrial upgrade.
Posted October 18, 2019
Source: CDIB Capital Group