Australia’s PE firm Wattle Hill hits first close at $200m

Sydney-based private equity firm, Wattle Hill RHC – with focus on Chinese and Australian markets – has hit a first close of its new fund at $200 million with a final target of  $300 million. The fund is scheduled to see its final close in 2017.

The first close was backed by one of the world’s largest insurance groups in Europe and largest privately owned insurance companies in China, the company said, in a brief statement on its website.

Based in Sydney, Hong Kong and Beijing, Wattle Hill invests in Australian and New Zealand companies with a focus on China’s market.

Watte Hill was founded by Albert Tse, who had worked as a legal representative at Macquarie Bank.

Tse and his wife, Jessica Rudd in October, invested in Buderim Ginger together with Asia Mark Development (AMD), a business associate of QiaQia Food Co from China for a total of $20 million, taking an initial 23 percent stake in Buderim Ginger. (Jessica Rudd is the daughter of former Australian prime minister Kevin Rudd. She is also the who is a local ambassador for Jack Ma’s internet giant Alibaba).

This investment in Buderim Ginger was Wattle Hill’s debut deal.

In a report, The Australian Business Review said  Tse’s advisory board includes Nick Greiner, premier of New South Wales, Ashok Jacob, chief of Ellerston Capital, former Howard government minister, Warwick Smith and Australian Football League’s commissioner, Gabrielle Trainor.

Also Read: 

Australia: Buderim Ginger sells 23% stake to China’s Wattle Hill, QiaQia Food

Chinese PE deals dominate Asian investment in Europe, US

Chinese PE firm CDH Investments to dilute 6.83% in pork producer WH Group for $806m

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.