Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
He had most recently served as the Asian head of structured credit at HSBC. Before then, he worked for Moody's Investor Services as a senior credit officer. He began his career as a litigator in New York with Jones, Day, Reavis & Pogue and later with Fried, Frank, Harris, Shriver & Jacobson. He attended Harvard College and Harvard Law School.
3 Degrees has also recently hired Tannee Woot as senior marketing manager. Previously, she was an assistant manager with EDB Investments, a wholly owned investment arm of SingaporeÆs Economic Development Board.
ôPerformance for the Asian Debt Fund is plus 2% year-to-date, with no down months,ö says founder and managing director Moe Ibrahim. ôWe have outperformed our closest comparables in 2007 and again in 2008.ö The fund was up 14% in 2007.
AsianInvestor magazine has been following Asian Debt FundÆs acquisition and management of the Bintan Lagoon Resort, which we believe to be the only local holiday destination owned and operated by a hedge fund.
ôMarch 2008 was another record month for us,ö says Ibrahim. ôWe experienced record hotel revenue. The position is doing extremely well."
Ibrahim notes that Malaysia's Landmark, backed by Genting, which owns a 300-hectare plot of land on Bintan, has secured a provincial casino license for Bintan and they are confident that this will be approved by Indonesian lawmakers in May.
"Needless to say, if this happens, we're very happy, but as again, it is Indonesia," Ibrahim says. "With casinos in Macau, Singapore and elsewhere, Indonesia will need to compete and eventually this will be a reality and Bintan is in pole position.ö
Insto roundup: FWD files for ADR listing in New York; Nippon Wealth Life fully acquired by parent firm
Intrust Super chief executive to step down after merger; Aware acquires site for essential worker affordable housing; China bans cryptocurrency-related business activities; Hong Kong insure FWD filed for US listing of ADRs; Nippon Life acquires wealth life insurance from MassMutual; NPS to hire five investment managers to diversify portfolio; Malaysia to review Spacs framework; EPF reports $8 billion investment income; and more
Hesitancy aside, institutional investors eye Australia and Japan as promising geographies for private debt investments within Asia Pacific, with Greater China and Korea on the periphery.
While Asia still lags the global average, interest in sustainable projects is growing fast; the only thing needed now is the expertise to drive growth
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.