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.
Citic Securities International (CSI) has been revealed as the investor. Hong Kong-based officials at CSI say their firm is keen to expand into asset management. Taking a stake in VisionGain represents the opening gambit.
CSI was jointly established in 2006 by the mainlandÆs Citic Securities and Citic Capital Holdings to focus on Greater China investment banking and securities brokerage businesses. It is meant as the parent companyÆs bridge to international markets and business. But its ambitions are not merely to expand across borders but to move into other sectors of finance.
Citic Group already has one cross-border asset-management specialist, Citic Capital, a $1.6 billion manager of hedge funds, private equity, real estate and structured finance. Founded in 2002, its parents are two Hong Kong-listed entities, the conglomerate Citic Pacific and Citic International Financial Holdings.
CSI officials say their move into asset management is independent of Citic CapitalÆs business.
In November 2007, CSI agreed to a strategic alliance with Bear Stearns, in which CSI would take 6% of Bear equity and Bear would get 2% of CSI stock, and the partners would set up a joint venture for an Asia business. That deal, which the parties are currently re-negotiating to deepen their mutual stakes, is independent of CSIÆs stake in VisionGain.
For VisionGainÆs partners, working with the international arm of ChinaÆs leading domestic investment bank brings obvious benefits, including a network of corporate connections and a source of research. VisionGainÆs investment strategy is based on interpreting BeijingÆs policymaking, so this kind of intelligence network is vital.
VisionGain also hopes to jointly develop offshore products in Hong Kong or other jurisdictions with CSI, in order to help it gain manufacturing and portfolio-management experience.
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.