EMP Global, a Washington-based private equity house that specialises in emerging markets, has named Chung Min Pang and Samir Soota as managing directors of its Asian operation.

EMP recently announced it was to join the BMB Group, after the alternative assets manager acquired a majority share of the company.  

The firm’s Asian business is run through EMP Daiwa Capital Asia, a joint venture with the Daiwa Securities Group.

“ China and India are the main markets for EMP Daiwa in Asia.  We consciously have made these hires to take advantage of opportunities presented by the global economic turmoil to invest in more rationally priced industrial assets in the region,” said Bharat Parashar, chief executive of EMP Daiwa.

Chung Min Pang will be responsible for the Greater China region and will be a member of EMP Daiwa’s Investment Committee. He will also support BMB’s activities in China. Chung Min, a Chinese National, has 30 years of experience in China. 

He was previously the China country head for both Bank of America and Salomon Brothers, and most recently headed Aureus Capital in China.  He has also held positions in China's Ministry of Agriculture where he participated in the early reform of the Chinese economy.

Samir Soota will be based in Singapore to oversee the South and South East Asian markets. Mr Soota joins EMP from Principia Management Group, a specialty investment services firm which he co-founded with a private equity firm.  Prior to that, he worked as president director for KPMG’s Financial Advisory Services Group in Indonesia.

EMP focuses on emerging markets and has raised private equity funds totalling over $7 billion for investment in Africa, Asia, Latin America, Europe and the Middle East.

The firm operates out of eight offices in the regions in which it invests.  It began activities in Asia in 1994.

EMP Daiwa is a joint venture between EMP Global and Daiwa Securities Group. It was formed in early 2007 to pursue private equity opportunities across Asia.  

BMB Group has offices in London, New York, Brunei, Kuala Lumpur and the Middle East. Its parent company is in Brunei, it is headquartered in the Cayman Islands.

BMB Group’s current focus is the investment management of the assets of ultra high net worth individuals, families and institutions from Asia.