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
3i has brought in a BPO expert to spearhead its foray. BhargavaÆs last job was as chief executive officer of Progeon, InfosysÆ BPO subsidiary. Under BhargavaÆs stewardship Progeon grew to an $86 million business with more than 7,000 employees.
3i announced its focus would be on buyouts with a value up to $1 billion or growth capital investments up to $150 million. Specifically, within the BPO sector 3i will look at companies with minimum revenues of Ç100 million in the financial services sector in the UK, Germany, the USA and India. Head of group markets, Chris Rowlands comments, ôThere are many exciting opportunities in the BPO market internationally. We are delighted that Akshaya has joined 3i to lead this new sector focus across our private equity business.ö
Bhargava has come full circle in returning to financial services as he took over at Progeon in 2003 after a 22 year long career with Citibank - where he was based in India, the Czech Republic and the UK. Bhargava has an MBA from the Indian Institute of Management, Calcutta.
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.