China’s LandOcean Energy, Fordham Funds to set up $142m merger vehicle

Electric Potential Energy (Photo: Internet Archive)

LandOcean Energy Services, a Shenzhen-listed energy provider, on Friday announced that it has signed an agreement with Fordham Funds Management Company to launch a 1 billion yuan ($142 million)  merger fund, per a company filing.  

Fordham Funds will contribute as much as 800 million yuan ($114 million) into it while LandOcean Energy will put in the rest. 

The fund will serve as a limited partnership with Fordham Funds as the fund manager. The partnership will last four years with active investments in the first three years, followed by the exit period. 

The merger fund will target deals in sectors such as oilfield services, high-end equipment manufacturing, new energy and materials, and industrial intelligence that are aligned to LandOcean’s core business. 

Established in 2014, Beijing-based Fordham Funds offers merger & acquisition solutions to listed companies and other investment services. With this partnership, Fordham seeks to expand its scope to the energy sector.

LandOcean Energy said the partnership will help the company allocate resources better and innovate its supply chain. 

 

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.