After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
They will be looking for special situations investments in the Indian subcontinent, Middle East and North Asia, chiefly growth capital deals, but taking distressed deals selectively. They will be looking mainly at listed and unlisted equity, but will go for other parts of the capital structure opportunistically.
The backers include an array of businessmen from that part of the world, including Atul Punj, Samir Fancy, and Value Partners' honorary chairman V-Nee Yeh. Samena hopes that these executives will help to zero-in on some attractive deals in the region.
Managing the portfolio will be the founder of Samena Capital Shirish Saraf, who previously set up Abraaj Capital. Alongside him are Ramiz Hasan, formerly of Invicta Investment Management and Hermes Pension Fund, and Simon Wong, a CLSA veteran and a partner at Lancea, a private equity and hedge fund boutique. The three men met long ago in the late-1980s as students at the London School of Economics.
Target returns are 25%, and the management fee is 2% with a performance fee of 20%.
Additionally Samena plans to allocate $50 million to buying stakes in other asset management companies (although not seeding their funds).
For this fund, Goldman Sachs is the prime broker, custodian and administrator. Auditors are Ernst & Young.
Brunei Investment Agency names head of real estate; Former Temasek CEO Ho Ching joins EQT Future's mission board; APG managing director for global real assets relocates to Hong Kong; Manulife Hong Kong appoints chief financial officer and chief product officer; Wayne Swan commences as Cbus chair; AXA IM appoints head of client group alts Asia; and more.
Census experts say China's population will start to decline at least five years earlier than expected - investors are being warned to keep a weather eye on inflation and structural shifts.
Family offices in Hong Kong want to do more impact investing, but the paucity of ESG talent and the lack of uniform reporting standards are real issues for them.
An impending series of interest rate increases and the deterioration in relations between Russia and the West over Ukraine have worried investors in recent weeks, hence the volatility in US equities in particular.