Reynold Lemkins, a global investment firm, is broadening its investment scope to include private equity, buyout and asset acquisitions, complementing its established focus on pre-IPO and public equities, president of China region Kris Liu told Mergermarket.

The Zurich-headquartered investor, historically involved in stocks, convertible bonds and derivatives under its active management approach, is now looking to acquire targets in specific sectors, including real estate, technology and entertainment, he said.

Liu noted the current environment favors asset-heavy projects, as lower valuations are creating compelling entry points in firms with solid fundamentals and long-term growth potential. It also sees clear exit channels through ties with its listed portfolio companies, which could in turn acquire some of the assets in the future.

Reynold Lemkins has held preliminary talks with candidates, including ski resorts, hotels and hospital, he said, noting that it remains receptive to approaches from financial and legal advisors with suitable referrals.

The investment firm is open to both majority and minority stake acquisitions. It may also consider joining a buying consortium should attractive opportunities arise, Liu added.

In November 2025, ITC Properties announced it entered into an agreement to issue 100.8 million shares to Reynold Lemkins at HKD 0.70 per share, representing a 10% ownership upon completion.

Besides filtering targets internally, Reynold Lemkins is keen to cooperate with general partners for co-investment opportunities, he said.

The investment firm is also open to opportunities in tech and biotech, with particular interest in subsectors such as robotics, semiconductors, innovative drugs and medical services, he said.

The sweet spot for investment is up to 30% of deal size, he said, adding that the size of the stake-hold sought will depend on the nature of the asset.

Targets with Chinese roots that generate a significant portion of revenue from offshore markets are preferred, he noted.

The firm’s primary exit strategy centers on secondary sales following investee IPOs, supported by thorough financial analysis to determine optimal timing, Liu said.

It aims to achieve an internal rate of return (IRR) exceeding 50% for its active management assets, he said.

Liu leads a team of 11 investment professionals in mainland China, Hong Kong and Singapore, while the firm employs about 50 staff worldwide.

In addition to active management, Reynold Lemkins maintains passive investments in fixed income, private credit and asset managers, he said.

Its annual IRR across all asset classes is expected to be about 20%, he said.

Founded in 2020, the investment firm is backed by an undisclosed family that runs real estate and international trading businesses in overseas markets, he said, declining to disclose its overall AuM.