All posts tagged Private equity fund

Connections trump everything in world of private equity in China

Private equity doesn’t have a long history in China, but it has grabbed attention over the past few years, partly because of the individuals standing behind the businesses. In other words, people are key in China. I mean, well, those special people.

How special is special? What kind of people are private equity funds looking for in China? Here is a job e-mail I received from a headhunter last week who is helping an unidentified “well established private equity firm with both US-dollar and yuan-denominated investment platforms” to hire a vice-president-level investment professional.

Brummer Prefers Private-Equity Bets Over Stocks: Southeast Asia

Brummer & Partners, the largest Scandinavian hedge-fund manager, will favor private companies rather than listed stocks to avoid volatility as it sets aside $120 million to tap growth in the Philippines.

“It is a better way to participate in the long-term growth of a country to be on the private side,” Patrik Brummer, founder of the Stockholm-based firm, said in an interview inManila yesterday. “Public markets are more volatile than private markets.”

The fund, which manages about $15 billion, is working with local partners Honorio Poblador and Javier Infante, he said. The private-equity fund, called Navegar, will over five years invest in eight to 10 companies that should generate returns of at least 20 percent each, Brummer said.

Boyu Capital Avoids China’s ‘Princeling’ Curse

More often than not, private equity funds set up by the sons and daughters of top Chinese government officials, also known as “princelings,” have been met with a barrage of criticism for being unprofessional and investing money willy-nilly into deals.

But Boyu Capital, which counts among its partners Alvin Jiang, the grandson of elder political statesman Jiang Zemin, has won praise from investors and is expected to quickly attract capital for its second fund, which it plans to launch later this year with a $1.5 billion target. One Beijing-based limited partner also pointed to the pedigrees of the firm’s four other partners as a testament to the firm’s professionalism.

Boyu’s co-founders include Mary Ma, who previously worked as a managing director of TPG Capital’s Asian arm, former Ping An Insurance 601318.SH -1.19% (Group) Co. president Louis Cheung and Sean Tong, a former managing director at Providence Equity Partners.

The Asian Century Report

All posts tagged Private equity fund

Connections trump everything in world of private equity in China

Brummer Prefers Private-Equity Bets Over Stocks: Southeast Asia

Boyu Capital Avoids China’s ‘Princeling’ Curse

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