Capital Group names new Japan president; Robeco replaces Singapore chief; Hillhouse Capital hires ex-Blackstone MD; Vontobel expands EM debt team; HSBC Global AM names Apac ETF sales head; Manulife creates new digital business role; Stanchart names CIO for wealth management; TMF appoints fund services exec in Shanghai; 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.
New European Union regulations being introduced in March will raise the bar for ESG reporting and could well hurt the appeal of energy- and carbon-intensive stocks.
Hurdles such as foreign exchange limitations still exist, but the new rules could help private equity fund managers and investors with ESG integration.
JP Morgan AM hires Asia head of investment stewardship; Hines appoints Asia CIO; JLL names new India CEO; William Blair IM hires Asia sales head; Colliers appoints new Australia chief; Fidelity moves into private credit; Broadridge adds Apac COO; Nomura adds 20 private bankers in Hong Kong and Singapore and more.
By applying the ‘Investment Clock’ framework, investors can link factor behaviour across economic cycles in the US.