Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
Greentown is headquartered in Hangzhou and develops property in the Yangtze River Delta, particularly Zhejiang. It has grown to a national player with operations across first and second tier cities in China. The Greentown brand has become well known across the country.
On the occasion Karam Butalia, Global Head, SCPEL comments: ôWith the rapid growth of the economy
over the last decade, ChinaÆs urban population grew from 340 million in 1994 to 540 million in 2004, and disposable per capita income has increased significantly. As a long term investor with strong commitments to China, we continue to hold positive views on the Chinese property sector.ö Butalia also referred favourably to measures introduced recently in China "aimed at rationalising the market and improving the regulatory structure".
Fan Chen, Managing Director and Head of Greater China, SCPEL who led this transaction said ôthis investment reflects SCPEL Greater China teamÆs significant experience in and deep understanding of the China market and its real estate sector.ö
Standard Chartered derives a substantial 95% of its profits from Asia, Africa and the Middle East. SCPEL is the private equity arm of Standard Chartered Bank and invests in companies in Greater China, India, Korea and Southeast Asia. In China other recent non-property investments include auto sector player, Dongfeng Motors and Beifa group, a supplier to the 2008 Beijing Olympics.
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.
China and India are more obvious choices for AustralianSuper to consider in Asia Pacific, but the super fund currently lacks the expertise and prefers to stick to the US and Europe.
CDPQ's Ivanhoe Cambridge hires ex-GIC real estate expert; NZ Super adds board member; Future Fund appoints chief people officer; BlackRock real estate CIO joins Singapore's Capitaland; AMP Capital hires MD for energy; Northern Trust AM names new CIO; T Rowe Price hires AU and NZ institutional head; Nuveen hires Southeast Asia institutional head; Citi names sustainability head in Singapore; and more
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains