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
London Asia is also in the process of raising a ú50 million ($87 million) private equity fund under the sponsorship of Collins Stewart, which is slated to receive a listing on the UKÆs alternative investment market in March.
Deal flow to be accommodated by that fund will be aided by co-operation agreements recently signed with two groups in Zhejiang Province, south of Shanghai: Hangzhou Hi-Tech Venture Capital, which is owned by the city government and has $17.5 million under investment with 20 investee companies; and the Zhejiang Provincial Bureau of Small and Medium Enterprises, which will give access to 30,000 SMEs in the province.
A new office in Hangzhou under the leadership of Zhen Changguang has been established to service these provincial tie-ups.
In addition, an agreement has been signed with Heilongjiang HIT Venture Capital, in ChinaÆs most northerly province of Heilongjiang. This company wants London Asia to help it find foreign investors for its local investments and provide exit strategies through acquisition or IPO.
Lastly, a strategic alliance has been agreed between London Asia and the Ministry of Information Industry Sanda Centre, which is a mainland government agency that coordinates and promotes the countryÆs information and communication industry. This entity has relationships with foreign direct investors such as NEC, Panasonic and Microsoft that London Asia hopes to leverage.
Simon Littlewood, London AsiaÆs CEO, and Victor Ng founded London Asia in 2000. It is a UK firm listed on the AiM. In mainland China, the new Hangzhou office will bring London AsiaÆs representation there to eight, in addition to Asian offices in Hong Kong and Singapore. Its core PRC business is to provide advice and raise capital for businesses and manage investments.
London Asia has invested in more than 20 companies, including floating Betex Group, China Eastsea Business Software, China Education Group, Peach Blossom Media, Sunpower Group and Snowcity.
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.