Peterson is a family-owned private entrepreneurial company based in Hong Kong. Under the leadership of Peterson’s Chairman, Franco Yeung, the company has expanded over the past forty years from a humble trading company sharing a single desk to a thriving and diversified international group. Today Peterson has businesses in various sectors and different regions of the world, while remaining true to the fundamental values on which the company was founded: integrity, entrepreneurship and partnership.
As the company continues to evolve and expand, the third generation of the family has taken up the challenge of upholding these values in today’s complex global markets. To support Peterson’s growth, the company has built a talented young management team, able to work harmoniously with the family, and with the versatility to move between asset classes and adopt varying strategies dynamically in response to the ever-changing contemporary world. While well established, the company maintains a vigorous spirit of entrepreneurship, allocating capital to investment in businesses at different stages in frontier markets, and innovative new industries.
This strategy of seeking opportunity amid diversity is underpinned by strong risk management, enabling Peterson to offset asset class, geographical, political and currency risks effectively. As Peterson is a private company, the management enjoys wide flexibility in its investment strategies and horizon. With no bureaucratic hierarchy to impede the management team, it has the agility to make timely decisions in response to promising opportunities in different investment cycles.
Founding of the company
In 1959, the founder Mr. Young Pui Kam, Peter, started the family business by leasing an office desk on Wyndham Street, Hong Kong, establishing PJ Young & Co. It all started as a trading company, mainly trading garments and embroidery (tablecloths and bedding etc.) from China to different parts of the world.
Succession in the family business
Franco Yeung, the son of Young Pui Kam, joined the business at an early age. He assisted his father with building the foundations of Peterson and further developing the business. Back in the early 1980s when Hong Kong's economy was in a transition period, Franco Yeung became the Chairman and led the company, expanding it from a pure trading business to manufacturing and other businesses. This was a critical step for Peterson, driving the development of Peterson Property and Peterson Capital.
Entering into property development
In 1983, Peterson expanded into the real estate business, starting off by acquiring agricultural land in the New Territories and Letter B (land exchange entitlements). In 1989, the company’s first property development, “Winland Building“, was completed, which marked an important milestone in Peterson’s history. The company further expanded into Canada and subsequently set up its sister company Peterson Group BC.
First investment in China
Peterson held a positive view towards China’s rapid development and consequently began its investments in China. Together with its Chinese partners, Peterson jointly invested in a number of domestic industrial projects, including a diesel engine manufacturer, tile manufacturer, granite quarry and processing factory, environmental construction material factory, and marine pier fenders factory. In 2011, its vision was proven when it sold Shandong Xin Immense Brewery to Tsingtao Brewery Company Limited, a well-known brand across the nation.
Venturing into the hotel sector
In 2002, Peterson expanded its business operations into the hospitality sector by establishing the hotel management company Rhombus International Hotel Group in partnership with industry experts. In 2007, the company's first self-owned hotel, Hotel LKF, commenced operation. This was one of the first boutique hotels in Hong Kong and it quickly became a landmark building in the area. Another landmark hotel projectis the Hotel Panorama which commenced operation in 2008.
Expanding into the United Kingdom
In mid-2012, Peterson expanded its real estate investment into the United Kingdom with Ampersand, its first completed mixed refurbishment project located at the junction of Oxford Street and Wardour Street, London. Since then, Peterson has invested in a number of projects in London and has also been diversifying into Manchester as part of its expansion in the United Kingdom.