Hong Kong’s Value Partners Group founder Cheah Cheng Hye plans to give up his role as co-chairman after he and co-founder Yeh V-Nee sold their 20.2% stake in the asset management firm to China security house GF Group last year, while co-chief investment officer Louis So intends to leave the company, according to Bloomberg, citing market sources.
So was co-chairman of Value Partners until last month when he was replaced by Lin Xianghong, former vice chairman of GF Holdings (Hong Kong).
He plans to leave Value Partners in January 2025 after more than a decade at the company, Bloomberg reported on September 2.
Cheah, meanwhile, has notified Value Partners’ board members and senior management of his decision to relinquish the co-chairman role, according to the news agency.
A Value Partners spokesperson declined to comment on the report and tells Asia Asset Management that the duo’s roles remain unchanged.
Cheah and Yeh founded Value Partners in 1993 and sold their stake to GF Group in June 2023 for HK$1.12 billion (US$141 million).
Value Partners now has offices across China, Malaysia, Singapore and the UK.
As of June 2024, the company had US$5.4 billion of total assets, 70% below a peak of more than $18 billion in 2018.
