Lung Chi Lee

Lung-Chi Lee is a Partner and General Counsel of NewQuest Capital Partners (rebranded TPG NewQuest after TPG's 2024 acquisition of the platform), based in Hong Kong. He oversees the firm's legal, compliance, corporate governance, and transaction-execution functions, and has more than 20 years of experience across private equity, M&A, and litigation. He joined NewQuest in 2011–2012, near the firm's founding, when it spun out of Bank of America Merrill Lynch's Asian private equity team along with a portfolio of over 20 PE investments.

Before NewQuest, Lee was General Counsel for Private Equity and Head of Legal for M&A at GE Capital across the Asia-Pacific region, also based in Hong Kong. Earlier in his career he practiced law in Shanghai, Hong Kong, and San Francisco with Paul, Hastings, Janofsky & Walker LLP and Perkins Coie LLP.

Lee earned his law degree from UC Berkeley School of Law (Boalt Hall) and a BA from the University of California, Los Angeles (UCLA). He is a licensed California attorney (State Bar #215521). He is fluent in English and Mandarin and conversational in Cantonese.

At the time of his 2012 appointment, Managing Partner Darren Massara described Lee's mandate as spanning new-deal identification, investment structuring, divestments, corporate governance, and compliance — a full build-out of the firm's platform as NewQuest planned to deploy roughly US$100–200 million over the following 12–18 months acquiring PE stakes from investors seeking liquidity.

• Lee is a legal/general-counsel principal rather than a primary deal partner; his work is structuring, executing, and governing transactions rather than sourcing seed rounds.
• NewQuest's strategy is Asia-Pacific direct secondaries: acquiring existing private equity positions (single-asset, portfolio, and GP-led continuation-vehicle deals) to provide liquidity to financial institutions, corporates, family offices, hedge funds, and PE funds.
• The firm is sector-agnostic and invests across the Asia-Pacific region, with historical deal experience in China, India, and Southeast Asia and offices in Hong Kong, Beijing, Mumbai, and Singapore.
• Deal sizes are institutional secondary transactions (early funds targeted ~US$100–200M deployment; the platform has since grown substantially under TPG), not angel/seed check sizes.