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
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.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.