Liyang Zhang joined Advent in 2026 and is a Managing Director based in Shanghai. He advises on investments across the Greater China region, with particular experience in consumer, industrial, and technology sectors. He has advised or led 11 investments across China and international markets over the course of his career. 

Before joining Advent, Liyang was a Managing Director at TPG Capital, where he led the China Consumer and TMT practice. Prior to TPG, he spent over a decade at CITIC Capital, leading the TMT investment practice. He began his career at McKinsey & Company. 

Liyang holds an MBA from INSEAD in Fontainebleau, France, and a bachelor’s degree in Automation from Zhejiang University’s Chu Kochen Honors College in Hangzhou, China.

How do you identify interesting companies in your sectors?

Many of the best opportunities emerge during periods of structural change — industry consolidation, corporate carve-outs, or when management teams are looking for a partner for the next stage of growth. Understanding the strategic context of a business is often as important as analyzing the financials. 

Describe a pivot experience that has shaped your career.

I realized early in my career that investing is not simply about selecting companies, but also about helping them navigate change. 

In several transactions I worked on, what began as a straightforward investment turned into a broader transformation — rethinking strategy, strengthening governance, and preparing the business for the next phase of growth. Those experiences reinforced my belief that private equity works best when investors and management teams build companies together over time. 

“I realized early in my career that investing is not simply about selecting companies, but also about helping them navigate change. ”

Liyang Zhang
Managing Director, Advent
How do you challenge yourself and others to continuously improve?

My philosophy is what I call “Be True,” which is fundamentally about intellectual honesty. 

In diligence, that means going beyond boardroom presentations: we spend time listening to distributors, franchisees, employees, and sales representatives. People then need to be able to speak freely about their ideas, especially those closest to the business. You need to get your hands dirty and understand how the business actually works. The best insights rarely come from the boardroom alone. 

Inside a private equity firm, that means encouraging associates and younger team members to challenge assumptions.

What do you do for fun?

I’m drawn to two things that might seem opposite – technology and the humanities. I like keeping up with emerging technologies and understanding how different mechanical and engineering systems work. On the other hand, I enjoy studying history and culture, which provide a broader perspective on how societies evolve. 

Away from work, I listen to classical music, Bach and Rachmaninov especially, and try to drive long road trips across different regions and continents, whenever time allows.

Pawel Kaminski joined Advent in 2026 and is a Vice President in Frankfurt. He acts as an advisor in the German-speaking and Central and Eastern Europe regions and advises on investments in the healthcare and industrial sectors.

Prior to joining Advent, Pawel worked at TA Associates in London and at Goldman Sachs Private Equity in London.

Pawel holds a BSc in Philosophy, Politics and Economics from University College London.

Anthony joined Advent in 2026 and serves as a Director, Financial Reporting, based in Boston.

Prior to joining Advent, Anthony held leaderships roles in finance and accounting at Fortitude RE, Putnam Investments, Boston Consulting Group and HarbourVest Partners. He started his career in assurance services at PwC where we focused on alternative asset managers.

Anthony received a BS in Business Administration with a dual concentration in Accounting and Finance from Northeastern University and is a Certified Public Accountant.

Yi Xiao joined Advent in 2026 and is a Senior Director and a member of the Portfolio Support Group.

Prior to joining Advent, Yi was a Managing Director and Head of Asia Portfolio Support at Permira. Before Permira, he served as Head of Transformation across Platinum Equity’s portfolio companies in the Asia-Pacific region. Earlier in his career, Yi spent over twelve years in management consulting and the industrial sector in the United States, focusing on data analytics, supply chain optimization, and automation.

Yi received an MS in Electrical Engineering from the University of Houston and an MBA from the University of Texas at Austin. He is certified in Prosci Change Management and is a Project Management Professional (PMP).

Kevin Li joined Advent in 2026 and is a Director, AI Engineering Lead in IT in New York.

Prior to joining Advent, Kevin worked at Citadel EQR as a Quantitative Developer and at Goldman Sachs as a Strategist in Private Asset Management.

Kevin received a Bachelor of Commerce from McGill University and a Master of Science in Operations Research from Columbia University.

Rohan Dabas joined Advent in 2026 and is an Associate in Mumbai. He advises on investments in the consumer sector.

Prior to joining Advent, Rohan worked as a consultant at Bain & Company.

Rohan received a BSc in Economics and Finance from Ashoka University.

Rocco Arcieri joined Advent in 2026 and is an Associate based in London. He advises on investments in Italy and the industrial sector.

Prior to joining Advent, Rocco worked at PJT Partners as an Investment Banking Analyst in London, focused on the industrial and media sectors.

Rocco received a BSc in International Economics and Finance from Bocconi University and a MSc in Finance from MIT.

Diego Uranga joined Advent in 2025 and is an Analyst based in Mexico City.

Prior to joining Advent, Diego worked at SAI Derecho & Economía, a boutique antitrust and investment banking firm. Previously, he worked at Ritch Mueller & Nicolau, focusing on tax law advisory.

Diego received a BS in Economics and an LLB in Law, both from the Instituto Tecnológico Autónomo de México (ITAM).

João joined Advent in 2024 as a Trainee and is an Analyst in São Paulo.

He holds a Bachelor’s degree in Economics from the São Paulo School of Economics at Fundação Getulio Vargas (FGV).

Arturo Cruz joined Advent in 2026 and serves as a Director, Fund Counsel, in Boston.

Prior to joining Advent, Arturo spent six years at Goodwin Procter LLP, where he focused his practice on all aspects of the formation, operation, and ongoing maintenance of private investment funds, including private equity funds, venture capital funds, co-investments, and other investment structures. He also advised investment fund sponsors across a range of sizes and strategies on fundraising activities and broader operational matters.

Arturo holds a BA, magna cum laude, from the University of Central Florida and a JD, magna cum laude, from Boston University School of Law.

Erin Foley joined Advent in 2021 and is a Director in Finance in Boston. She is a member of the Fund Administration group and is responsible for overseeing the financial operations of the Advent Funds, including financial reporting and cash management.

Prior to joining Advent, Erin was a Senior Manager at PwC in its Asset & Wealth Management audit practice, where she focused on registered and alternative investment fund products.

Erin received a BS in Accounting from Stonehill College and an MS in Accounting from Northeastern University. She is a Certified Public Accountant.

Umesh Albert joined Advent in 2017 and is a Director in London. He manages the Global Service Desk.

Prior to joining Advent, Umesh held various System Administrator positions for nearly a decade. Umesh has experience across several industries, including finance and legal services.