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Sources say that the head of KKR Greater China is leaving to become an adviser.

Hong Kong (Reuters) – According to two people with knowledge of the situation, Paul Yang, who was a partner and the head of Greater China at KKR & Co (NYSE: KKR), recently quit to become an adviser at the private equity firm.

Yang is from Taiwan, and he used to be the president and CEO of a Taiwanese merchant banking group called China Development Financial Corp.

Yang started working at KKR in 2017. According to KKR’s website, he worked at DBS Bank, where he was head of private equity and mezzanine finance, Goldman Sachs (NYSE:GS), and General Atlantic, according to KKR’s website.

One of the people said that Yang, who lives in Hong Kong, has decided to step down for personal reasons. On July 1, he will start his new job.

Yang and KKR both declined to say anything.

Since 2017, KKR has made 10 investments in China, according to its website. These investments include a stake in China’s biggest social media company, Bytedance, an education app called Huohua Logic, and a company that makes high-end liquor called ZJLD Group.

The company has 35 investment experts in Beijing and Shanghai at the moment.

One of the sources, who did not want to be named because the information was not public, said that it is likely to hire a new head of Greater China who will be based in mainland China.

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