About Auster
We amplify growth. We understand Asia. We turn uncertainty into upside. Our team have 200+ years combined experience doing just that.
Founded in 2020 as a collaboration between Rothschild & Co Merchant Banking and Jennifer Yu (formerly Chairwoman of Rothschild & Co Greater China), Auster is an independent global private equity firm dedicated to investing in European businesses with an Asia angle. We are defined by a lively international streak, a shared respect for risk and a passion for investing behind the global ambitions of bold management teams and founders.
We are a team of diverse professionals with profoundly global perspective. From Shanghai, London, Hong Kong and San Francisco we are investing our $650m maiden fund into European businesses that serve customers with highly differentiated solutions, conferring benefits far in excess of unit price. We find this supports entrenched competitive positions, sustainable return on invested capital and stable free cash flow across economic cycles.
2021
Fund I launched
€200m-1bn
Target Enterprise Value
€50-150m
Target Equity Cheque
8-10
Target Portfolio Size
Across our three sectors we dive deep into specific sub-sectors
Strength in flexibility
Speed and pragmatism are at the core of Auster’s investment approach. We invest across the full equity spectrum, from majority buyouts to substantial minority stakes, replacement capital, growth equity, and structured instruments.
We partner with entrepreneurs, family owners, management and corporates. Where appropriate, we will also seek to invest alongside a European or US middle-market financial sponsor, allowing us to mutually benefit from each other’s deep regional operating expertise. Through these partnerships, our sponsor partners can act with confidence in Asia.
Differentiated partnership for value-creation
We invest behind middle-market leaders in Europe and North America who need a trusted, high-impact partner in Asia.
Auster goes far beyond simply providing capital by focusing on actively unlocking upside. We draw on our international investing experience and our local network for strategic advice and access across procurement, regulation, financing, and go-to-market to:
- Open new revenue channels
- Address regulatory uncertainty
- Strengthen supply chains
- Build-out effective regional management
- Take advantage of flexible financing terms
- Map and execute regional bolt-ons and transformative M&A
Meet the team
Jennifer Yu
CEO, Member of Investment Committee
Ms. Yu is the Chairwoman and Founding Partner of Auster Capital and previously served as the Chairwoman of Rothschild & Co in Greater China.
Jennifer has played a leading role in various landmark cross-border transactions during her time at Rothschild & Co, including Zhejiang Geely’s acquisition of Volvo Cars and ChemChina’s acquisition of Pirelli.
Ms. Yu is also a Trustee of Shanghai University of Finance and Economics (“SHUFE”). She graduated from SHUFE with bachelor’s degree in finance and received her master’s degree in Business Administration from SHUFE.
Ms. Yu is also a passionate dancer at competitive level, and has won multiple international prizes, including the ProAm Ballroom Championship at Blackpool Dance Festival.
Nelson is an Operating Partner, based in Shanghai.
Prior to joining Auster in 2023, Nelson served as the Global CEO of CITIC Dicastal and General Manager of Toyota North America Group. He brings 30+ years of international operating experience to Auster, with a particular focus on industrials businesses, and having worked extensively in North America, Europe and Greater China.
Before joining Auster, he was also the Operating Partner of XJ Capital.
Nelson holds an MBA from University of British Columbia
Benny is the Managing Director of the company.
Michael is a Senior Advisor. He brings 25+ years of highly relevant cross-border investing experience.
Prior to joining Auster in 2020, Michael co-founded Prax Capital – an investor in mid-market Industrials and Consumer businesses – and grew the business to 15 investment professionals. At Prax, he led investments in consumer goods, cuisine and industrials, including Little Sheep, Zhejiang Tianneng and Wuxi Suntech.
His earlier career was NewMargin Ventures and Deloitte.
Michael graduated with an MBA in Finance from the Wharton School, University of Pennsylvania and a Bachelors degree in Law from Ningbo University.
Tobias is a Senior Advisor.
Prior to joining Auster Capital in 2020, he worked at Partners Group in London and Zug and Apollo Global Management in New York and London. He started his career in Investment Banking and worked at Morgan Stanley and Lehman Brothers, focusing on international and cross-border transactions.
Tobias graduated with an MBA from Leipzig Graduate School of Management (Handelshochschule Leipzig) after studying in Leipzig, New York and Toulouse. He received a scholarship from the Foundation of German Business as well as an Erasmus Sokrates scholarship.
Kate is a Vice President, based in our Shanghai office.
Prior to joining Auster Capital in 2023, Kate worked as a Senior Associate at Nexus Point Capital in Shanghai, where she was focused on buyout transactions in Greater China and Asia.Kate started her career at Bank of America Merrill Lynch Investment Banking group in New York.
Kate graduated with a Bachelor of Arts in Mathematics and Economics double major from Northwestern University.
Sophia is a Vice President, based in our Shanghai office.
Prior to joining Auster Capital in 2022, she worked at Wise Road Capital where she focused on cross-border buyouts.
Sophia started her career at PwC Deals Advisory where she conducted extensive financial due diligence and valuation advisory for PE funds.
She graduated with a MSc in Finance and Accounting from London School of Economics.
Susan is Head of Human Resources at Auster, based in our Hong Kong office.
Prior to joining Auster Capital in 2022, she was the Head of Human Resources, Asia at Rothschild & Co. Global Advisory for over 12 years where she covered the Greater China, Southeast Asia and India regions. She also worked closely with the London head office on incorporating people strategies and business strategies in Asia.
As a Human Resources professional, Susan has over 20 years’ experience working in the financial industry. Before Rothschild & Co., she was with HSBC and Bank of America, covering the Investment Banking and Private Equity businesses.
She graduated with a BA in Sociology and Psychology from University of Toronto.
Sharon is the Finance Director in Auster, based in our Hong Kong office.
Prior to joining Auster Capital in 2018, she worked at CITIC Capital Partners Limited (a private equity affiliate of CITIC Capital Holdings Limited engages in buyouts and strategic investments in Chinese and international companies) where she focused in Fund Operations and Accounting. She also worked extensively on in-house Finance.
Prior to CITIC Capital, Sharon worked at Franklin Templeton Investments and Fortis Prime Fund Solutions, where she supported Fund Operation, Accounting and Compliance function of private equity funds, hedge funds and fund of funds.
She graduated with a BBA in Accounting from Hong Kong University of Science and Technology and is a fellow CPA from Association of Chartered Certified Accountants, UK.
Jane is Office Manager, based in our Shanghai office.
Prior to joining Auster in 2019, she worked as Office Manager at Hengeler Mueller Partnership with Limited Professional Liability Shanghai Rep. Office, where she supported the overall operations of the Shanghai office and was responsible for the HR issues of partners or associates from headquarter in Shanghai.
Prior to Hengeler Mueller, Jane worked as HR manager in Kistler Instrument China Ltd., where she was responsible for HR recruiting, training, benefit management & performance management.
She graduated with a Master’s degree from the University of Bonn, Germany, majoring in National Economics.