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.
Like his new boss, Rakesh Mital has been hired from General Electric, where he served as chief credit officer for GE Global Electronics Solutions in San Diego. Before then he worked at the corporate headquarters of GE Commercial Finance in Stamford, Connecticut as a senior risk manager. Previously he worked in Hong Kong from January 1999 as the chief risk officer for various Asian-focused GE Capital businesses.
Julian Ball arrives from the Hong Kong office of JPMorgan where he ran both its Asian financial restructuring and power/utilities businesses. Before that he was an investment banker in the same company, having started out in Ernst & Young corporate finance and management consulting.
Ritchie is an alternatives asset manager involved inter alia in private equity, venture capital and hedge funds. This year, the company is also opening up in India and in future will consider offices in China and Japan.
Ritchie was established in 1997 and is headquartered in Chicago. Its Hong Kong office is its Asian beachhead. Business-wise it is focusing on high-growth economies in Asia, in particular China, India, Japan, Korea, Taiwan, Australia and Singapore. The firm is interested in deals of three or four yearÆs duration with mostly mid-market growth companies or those in special situations. It is not going into head-on competition with either specialised buy-out or classic private-equity funds, but seeks a space in between.
Mega players Nippon Life and Dai-ichi Life are looking for opportunities in higher-yield single-A US corporate bonds, which offer more appealing yields than stagnant domestic offerings.
The “lower for longer” monetary policy and stimulus packages, coupled with the rolling out of vaccine programmes favorably support real estate investing in the region, with offices and data centres presenting forward-looking opportunities.
As US fixed income default rates rose and yields fell during the pandemic, are Asian bonds, which have had more stable yields through 2020, looking more attractive?
Insto roundup: Norway's Oil Fund praises China governance efforts; NPS commits $100m to taxi-hailing app
Norway's Oil Fund welcome Chinese proposals improving transparency and shareholder protection; HK's MPF assets surge 35% year on year; Korea's NPS commits $100m to TPG consortium to invest in taxi-hailing app; Poba commits W270bn to European property; Malaysia's EPF sees investment income rise 59% year-on-year in first quarter, and more.