A senior manager at Goldman Sachs Group Inc. has sold his Hong Kong home to a private equity veteran for about $13 million, marking another high-profile residential transaction in the Asian financial hub.
Ronald Lee, who leads the US firm’s Asia-Pacific private wealth management business, sold the property at Eden View in the Stanley area for HK$100 million ($12.8 million) last month, according to a land registry filing. It was sold to Deknam Ltd., a vehicle co-owned by Nik Rowold, a partner at CVC Capital Partners, company records show.
The sale price is almost three times higher than the HK$35.2 million that Lee and his wife paid for the property in 2006. Business tycoons and finance veterans have been major buyers of high-end properties in the city in recent months as the real estate market shows signs of a rebound from a prolonged slump.
For the buyer, the purchase price falls just below the threshold requiring a higher levy. Hong Kong’s government hiked the stamp duty for residential property transactions valued over HK$100 million to 6.5% from 4.25% in late February.
Rowold joined CVC in 2016 and is based in London, according to the private equity firm’s website. He holds a license for its Asia-Pacific unit in Hong Kong, the Securities and Futures Commission’s website shows.
Representatives for Goldman Sachs and CVC declined to comment, while Lee didn’t respond to a request for comment.