The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
On the occasion Mittal comments: ôIndia historically has had a strong cultural bias for innovation, and now with proven technical talent and a strong local market, we believe the time is ripe for entrepreneurship to flourish. We are ready to provide first rounds of institutional capital and are already receiving many interesting business proposalsö.
It is perhaps noteworthy that India is CanaanÆs second overseas office in a 19 year existence. The firm which was founded in 1987 has $2.4 billion under management and has invested in 232 companies, completed 60 mergers and acquisitions and taken more then 50 companies public. Its first move outside the US was an office it set up in Tel Aviv in December, 2005.
CanaanÆs bullishness on India is further corroborated by KamraÆs statement that the India office could eventually rival the size of the Silicon Valley operation. When Canaan opened its office in Israel it had made only 3 investments in companies headquartered outside the US. One of these was Aztec Software, a software development firm based in Bangalore in which Canaan invested in 2000. Canaan has said in the past that China is also of interest to them however has chosen to begin overseas forays with Israel and India.
Going forward Canaan will be scouting out early and mid stage investments, an area which they feel has less competition in India where most private equity firms are focused on late stage. Canaan was an early stage investor in successful US based internet companies such as DoubleClick, CommerceOne, Match.com and Blue Frog Mobile and is confident of its ability to identify and grow similar opportunities in India.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.
Malaysia's Armed Forces Fund hires new CEO; Canada's Omers appoints Asia capital markets managing director; HSBC Asset Management creates alternatives unit, appoints CIO as its head; Bank of Singapore names global wealth head; Aware Super hires IFA head; Hong Kong names acting head for MPFA; Schroders adding to Asia ESG headcount; and more.
Asian fixed income assets – including Hong Kong dollar (HKD) bonds – are luring growing numbers of global investors who are striving for reliable and consistent returns amid macro uncertainty compounded by rising inflation and rates, according to HSBC Asset Management.