By Ka Kay Lum
Swedish PE firm EQT has promoted Singapore-based Brian Chang to partner, effective January 1, 2019.
The deal, which increases Finn’s total Asia headcount to more than 70, follows the 2018 acquisitions of London-based Brighter Group and US-based Missy Farren Associates.
SFERS had previously invested $100 million in CMC Capital Partners II in 2016.
AlpInvest Partners has made its first dedicated hire in Japan while Hong Kong-based Jardine Matheson has appointed an outsourced chief investment officer for its pension assets.
China’s securities regulator approved UBS Group’s majority stake in its securities JV, making it the first foreign bank to take such control.
Autonomous driving startup WeRide has raised “tens of millions of US dollars” in fresh funding from AI firm SenseTime and ABC International, a wholly owned subsidiary of the Agricultural Bank of China.
The range of assets spans a hotel project in frozen Harbin and stakes in struggling online lender Dianrong, insurer Bohai Life and brokerage HNA Futures.
The Chinese company, which was earlier targeting to raise about $1 billion, is discussing the possibility of selling shares in New York as soon as the first half.
Long term, Beijing wants to cement deals with countries that are both resource-rich—a critical need for Chinese industry—and have growing consumer demand. Often, those nations and their technology firms are seeking Chinese expertise—and money.
The fund has already invested over $350 million in various portfolio firms.