US-based financial services firm Perella Weinberg Partners has named Daniel Chen as the new managing director and head of Asia.

Based in Beijing, Chen will work closely with the firm’s partners and professionals to expand the firm’s presence in Asia, the firm said in a statement.

Prior to his new position Chen was senior vice president at China Investment Corporation’s Special Investment Department, where he managed and played a key role in a number of large-scale direct investments globally.

“To better meet the needs of clients globally, we are focused on strategically expanding our geographic reach, enhancing our product offering and augmenting our professional talent. With today’s announcement, we continue  to make progress on these efforts. Asia is an important business centre and we are thrilled to be  further enhancing our offering with Daniel’s addition,” said Joseph Perella, chairman and chief executive of Perella Weinberg Partners.  

Last year Morgan Stanley launched a fund under its UCITS Irish umbrella, FundLogic Alternatives, managed by Perella Weinberg Partners - a firm with approximately $9.1 billion of assets under management.