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Treasury & Capital Markets / On The Move
Deutsche Bank names M&A co-heads for Asia-Pacific
Bank advises Yuyuan in Blackstone acquisition of International Gemological Institute for US$570 million
The Asset 22 May 2023

Deutsche Bank has appointed Zi-Kuan Lim and Rohit Satsangi as co-heads of M&A, Asia-Pacific.

Lim will join Deutsche Bank from Credit Suisse, where he led its Southeast Asia M&A franchise. During his 20-year tenure at Credit Suisse, Lim advised on some of the largest and most high-profile M&A transactions in Southeast Asia. He will start in his new role in July.

Satsangi joined Deutsche Bank 17 years ago in the London office and relocated to Hong Kong in 2008 joining the regional M&A business. Over the past decade, he has played a key role in leading landmark transactions across North Asia for corporate and financial sponsor clients such as Carlyle, Blackstone, BPEA EQT, MBK, Fosun, and Hutchinson Telecom.

Lim will be based in Singapore and Satsangi will continue to be based in Hong Kong. Both will report to Mayooran Elalingam, head of investment banking coverage and advisory, Asia-Pacific.

Deutsche Bank, meanwhile, acted as the exclusive financial adviser to Shanghai Yuyuan Tourist Mart Group on a transaction that saw funds managed by Blackstone acquire 100% ownership of the International Gemological Institute (IGI) for US$570 million.

Yuyuan, a lifestyle and consumer platform under Fosun International, acquired an 80% stake in IGI in 2018, while the remaining 20% stake was held by IGI founder and CEO Roland Lorie.

Founded in 1975 in Antwerp, Belgium, IGI provides certification of diamonds, coloured stones and fine jewellery globally, and is a leading gemological training institution. As of today, IGI has 29 laboratories and 18 schools in 10 countries across the world.

Deutsche Bank has been a long-term partner of Fosun, having led over 20 transactions across M&A and capital markets products for the group.

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