Malaysia-based fund manager Affin Hwang Asset Management Bhd announced that it has launched its private equity arm Bintang Capital Partners today, according to a press statement.
Bintang Capital, which marks the formalisation of Affin Hwang’s foray into the PE business, will focus on mid-sized companies based in the Asia Pacific. It has an exclusive strategic partnership with Singaprean PE firm CMIA Capital Partners for investments in the region.
Last year, Affin Hwang and CMIA Capital acquired app provider Bitsmedia where the buyout was Affin Hwang’s maiden transaction in the PE scene.
Affin Hwang proceeded to launch its full-fledged private equity business buoyed by the strong demand from its institutional and high networth clients for more sophisticated investment solutions.
Johan Rozali-Wathooth, who joined Affin Hwang Asset Management as deputy managing director in June 2016, led the initiative to build Affin’s full-scale PE business.
“We came to the conclusion that in order for us to successfully capture this opportunity, we had to move quickly to establish a private equity business with its own proprietary deal flow and a dedicated team,” said Affin Hwang managing director Teng Chee Wai.
To boost its PE business, Affin Hwang has also roped in former RHB Investment Bhd’s dealmakers Soon Poh Lean, Theresa Lim and Andrew Tan join Bintang as partner, investment director and vice president, respectively.
All three have been a core part of RHB’s mergers and acquisitions advisory team, executing landmark M&A transactions for RHB’s corporate clients.
Bintang Capital will be jointly led by Affin Hwang deputy managing director Johan Rozali-Wathooth as managing partner and Soon as partner.
“I feel that the team we have assembled brings together a strong combination of investment, strategic advisory and execution, technological/operational, and project management capabilities, which will allow us to bring a high level of holistic value-add to our investee companies. In turn, I believe this will translate into Bintang’s delivery of superior returns for our investors,” said Johan Johan Rozali-Wathooth.
As at May 31, 2018, Affin Hwang together with its Islamic investment arm, AIIMAN Asset Management Sdn Bhd, has a total of RM48.30 billion ($12.08 billion) of assets under administration, comprising in-house unit trust funds as well as corporate and discretionary portfolios.