MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
Citi now plans to split the Asian capital introductions role, with Jeff Fisher handling start-ups while Michael Mills will cover foreign investors looking at the Asian market, in addition to capital introductions with established hedge funds.
Both men are reporting to managing director Hannah Goodwin. There have been more personnel allocated to hedge fund capital raisings lately, accompanying some murmurs in the market that capital raising for new hedge fund star-ups is becoming a more intensive process unless your hedge fund already has a track record.
Goodwin, comparing the conditions in 2006 to those of today, observes, ôI would say capital raising is slightly easier but would quantify that for those more established funds with a proven track record.ö At present Citi has no plans to hold an Asian capital introductions event like some of the other local prime brokers. ôWe are going to be different and more customized,ö says Goodwin.
Citi lost its prime broking sales head Katarina Koenig recently, when she rejoined Goldman Sachs. Citi is still searching for a replacement for her but the firm says the gap hasnÆt affected business development. ôBusiness is not slowing down,ö says Hannah Goodwin. ôI have been handling sales in north Asia and have been winning mandates.ö
Separately, back at UBS and helping to fill the Michael Mills gap: Miho Okada is now handling Japanese capital introductions. Hugh Abdullah, who remains in Hong Kong with UBS, will continue to deal with Asia ex-Japan/ex-Australia capital introductions.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.