Private equity firm CVC said on Sunday that Hong Kong financier Francis Leung has joined the company as senior adviser focusing on developing investment opportunities in Greater China.

CVC, which manages more than US$23 billion in equity capital, said in a statement that Leung would also help advise CVC's investee companies and management.

Leung, a long-time banker to Hong Kong tycoon Li Ka-shing with close China ties, was with Citigroup Global Markets as chairman of Asia until last year focusing on developing Citigroup's Greater China investment banking business, CVC said.

CVC, which is a major shareholder in global motor racing business Formula 1, owns interest in Australia's media group PBL Media, Japan's restaurant chain Skylark, Singapore's precision metals stamping firm Amtek, Malaysia's largest paper packaging firm GS Paper and Packaging, and Chinese wood fibreboards maker Plantation Timber Products.