Niklas Amundsson, a partner who helped establish MVision's presence in Hong Kong, is departing the firm following a reorganization. MVision has hired two new managing directors in Hong Kong, Michelle Paisley and Dennis Kwan. Founder Mounir "Moose" Guen relocated to Asia to take advantage of growth opportunities in private equity in the region. MVision has expanded its operations and now has 12 professionals based in Asia.
QNB Group officially announced the acquisition of a 97.12% controlling stake in National Société Générale Bank - Egypt (NSGB), including Société Générale's 77.17% stake and an additional 19.95% through a mandatory tender offer. NSGB is the second largest private bank in Egypt with 160 branches across the country and more than 4,500 employees. The acquisition supports QNB Group's goal of becoming a Middle East and Africa icon by 2017 by expanding into Egypt, the fourth largest economy in the MENA region.
Monument expands HK office with three hires - Sep 2015Niklas K Amundsson
Monument Group, a Boston-based placement agent, expanded its Hong Kong office by hiring three new employees: Albert Jun as director, Sabrina Meng as senior associate, and Kris Ho as operations manager. Jun will be responsible for marketing to Korean and other Asian investors. Meng joins Monument's analytics team from Emerald Hill Capital Partners. Ho will be in charge of client service and office management. The hiring is part of Monument's Asia expansion to capitalize on the growing Asian investor market and investors becoming more global in their investment considerations.
DirectMoney Limited has become the first marketplace lending company to list on the Australian Securities Exchange (ASX). It raised $11.2 million in capital to further grow its peer-to-peer lending platform. DirectMoney aims to disrupt traditional bank lending by connecting borrowers and investors directly. The capital raise and ASX listing will allow DirectMoney to continue expanding its business and targeting new borrowers and investors.
Mr. Xiaocan Lin completed a successful internship with AXA's SL Financial Group from June to July 2016. During his internship, he demonstrated strong capabilities in stock analysis, financial statement analysis, security analysis, and portfolio analysis. He also gained a deep understanding of AXA and the Financial Group's culture. Mr. Lin completed all of his analysis assignments and provided valuable advice for constructing investment funds, which are core to AXA's product offerings. AXA is a leading global financial company that has served over one million customers in Hong Kong and Macau since 1986 through offering insurance, investment, and retirement solutions.
Minority Stake Buyout of Abax Global- Chris Hsu and Morgan Stanley.pdfChris Hsu
Chris Hsu, who was formerly employed as Managing Director and Head of Special Situations Asia at the giant Chicago-based Citadel Investment Group, was one of the key founders and CEO of Abax Capital and Kilometre Capital, the hedge funds.
Financial services cos diversify biz to minimise risksSaxbee Consultants
Financial services companies like Centrum Capital, Edelweiss, and JM Financial have diversified their businesses into areas like lending, wealth management, and asset reconstruction to minimize risks. Centrum Capital has expanded its lending activities and wealth management for high net worth individuals, while Edelweiss and JM Financial have also grown their credit businesses significantly in recent years to stabilize returns.
AVCJ - Fundraising and co-investments - Friends with benefitsNiklas K Amundsson
Pacific Equity Partners' acquisition of Spotless Group involved co-investment from a parallel vehicle and additional LPs to supplement equity from PEP's fourth fund. The investment generated strong returns for investors. PEP has modified its co-investment model for its fifth fund to offer select prequalified LPs the opportunity to co-invest on a discretionary basis with zero fees. This increasingly customized approach to co-investment reflects differing priorities among LPs and allows GPs to attract commitments from investors willing to participate at scale and speed in fundraising.
QNB Group officially announced the acquisition of a 97.12% controlling stake in National Société Générale Bank - Egypt (NSGB), including Société Générale's 77.17% stake and an additional 19.95% through a mandatory tender offer. NSGB is the second largest private bank in Egypt with 160 branches across the country and more than 4,500 employees. The acquisition supports QNB Group's goal of becoming a Middle East and Africa icon by 2017 by expanding into Egypt, the fourth largest economy in the MENA region.
Monument expands HK office with three hires - Sep 2015Niklas K Amundsson
Monument Group, a Boston-based placement agent, expanded its Hong Kong office by hiring three new employees: Albert Jun as director, Sabrina Meng as senior associate, and Kris Ho as operations manager. Jun will be responsible for marketing to Korean and other Asian investors. Meng joins Monument's analytics team from Emerald Hill Capital Partners. Ho will be in charge of client service and office management. The hiring is part of Monument's Asia expansion to capitalize on the growing Asian investor market and investors becoming more global in their investment considerations.
DirectMoney Limited has become the first marketplace lending company to list on the Australian Securities Exchange (ASX). It raised $11.2 million in capital to further grow its peer-to-peer lending platform. DirectMoney aims to disrupt traditional bank lending by connecting borrowers and investors directly. The capital raise and ASX listing will allow DirectMoney to continue expanding its business and targeting new borrowers and investors.
Mr. Xiaocan Lin completed a successful internship with AXA's SL Financial Group from June to July 2016. During his internship, he demonstrated strong capabilities in stock analysis, financial statement analysis, security analysis, and portfolio analysis. He also gained a deep understanding of AXA and the Financial Group's culture. Mr. Lin completed all of his analysis assignments and provided valuable advice for constructing investment funds, which are core to AXA's product offerings. AXA is a leading global financial company that has served over one million customers in Hong Kong and Macau since 1986 through offering insurance, investment, and retirement solutions.
Minority Stake Buyout of Abax Global- Chris Hsu and Morgan Stanley.pdfChris Hsu
Chris Hsu, who was formerly employed as Managing Director and Head of Special Situations Asia at the giant Chicago-based Citadel Investment Group, was one of the key founders and CEO of Abax Capital and Kilometre Capital, the hedge funds.
Financial services cos diversify biz to minimise risksSaxbee Consultants
Financial services companies like Centrum Capital, Edelweiss, and JM Financial have diversified their businesses into areas like lending, wealth management, and asset reconstruction to minimize risks. Centrum Capital has expanded its lending activities and wealth management for high net worth individuals, while Edelweiss and JM Financial have also grown their credit businesses significantly in recent years to stabilize returns.
AVCJ - Fundraising and co-investments - Friends with benefitsNiklas K Amundsson
Pacific Equity Partners' acquisition of Spotless Group involved co-investment from a parallel vehicle and additional LPs to supplement equity from PEP's fourth fund. The investment generated strong returns for investors. PEP has modified its co-investment model for its fifth fund to offer select prequalified LPs the opportunity to co-invest on a discretionary basis with zero fees. This increasingly customized approach to co-investment reflects differing priorities among LPs and allows GPs to attract commitments from investors willing to participate at scale and speed in fundraising.
The document discusses the emerging opportunities for distressed investing in India. Slowing economic growth, high inflation, and falling stock markets have put pressure on many domestic companies with debt payments. This macroeconomic environment, along with difficulties refinancing foreign currency bonds, has led to a growing number of distressed debt situations. However, some investors remain hesitant due to uncertainties over legal processes and debt enforcement in India. One distressed fund raising capital could help educate other investors on opportunities in this new asset class.
The Alternative Investment Fund Managers Directive (AIFMD) introduced by the European Commission aims to protect investors, but it poses challenges for Asian private equity firms seeking capital from European investors. To comply, firms must safeguard assets, keep transparent records and reports. However, few Asian firms are following their European peers in embracing the directive's requirements. Non-compliance could be considered a criminal offense and allow investors to revoke investments. As a result, some Asian managers avoid marketing directly to European investors or rely on reverse solicitation to circumvent restrictions, though this may limit their access to capital. The complex regulations have led to confusion and could negatively impact both Asian firms and European limited partners.
The JOBS Act, which was recently signed into law, could significantly impact fundraising rules for private equity and venture capital firms depending on how the SEC chooses to implement the law. While the Act would allow firms to publicly advertise their funds, many in the industry believe the private equity model will remain focused on private, individually negotiated deals. Some are concerned about increased competition for investors or public scrutiny of deals, but others such as venture capital firms see opportunities to reach more potential investors and funnel more startups to firms. There is uncertainty around how much crowdfunding for startups allowed under the Act may impact early-stage investors and companies.
- Ant Capital Partners is a small, private equity firm in Japan that focuses on operational improvements for small-to-medium enterprises (SMEs) through buyout deals typically between $50-150 million.
- While growth is limited in Japan's stagnant economy, SMEs remain an opportunity as over half of publicly listed companies have less than $100 million in market cap.
- In response to SMEs needing to expand overseas, Ant has taken on more cross-border deals, establishing a Hong Kong office and completing exits in China. This cross-border strategy will be integral to their future work.
Emerging markets have experienced increased volatility recently, slowing GDP growth and disappointing returns from major countries like China, India, and Brazil. This has caused some investors to pause or reallocate funds to developed markets like the US. However, total fundraising for emerging markets private equity is up this year compared to last despite the macro challenges. While selectivity has increased, the fundamental promise of long-term growth in emerging economies remains intact, and volatility may create opportunities for strong managers.
The document discusses the emerging opportunities for distressed investing in India. Slowing economic growth, high inflation, and falling stock markets have put pressure on many domestic companies with debt payments. This macroeconomic environment, along with difficulties refinancing foreign currency bonds, has led to a growing number of distressed debt situations. However, some investors remain hesitant due to uncertainties over legal processes and debt enforcement in India. One distressed fund raising capital could help educate other investors on opportunities in this new asset class.
The Alternative Investment Fund Managers Directive (AIFMD) introduced by the European Commission aims to protect investors, but it poses challenges for Asian private equity firms seeking capital from European investors. To comply, firms must safeguard assets, keep transparent records and reports. However, few Asian firms are following their European peers in embracing the directive's requirements. Non-compliance could be considered a criminal offense and allow investors to revoke investments. As a result, some Asian managers avoid marketing directly to European investors or rely on reverse solicitation to circumvent restrictions, though this may limit their access to capital. The complex regulations have led to confusion and could negatively impact both Asian firms and European limited partners.
The JOBS Act, which was recently signed into law, could significantly impact fundraising rules for private equity and venture capital firms depending on how the SEC chooses to implement the law. While the Act would allow firms to publicly advertise their funds, many in the industry believe the private equity model will remain focused on private, individually negotiated deals. Some are concerned about increased competition for investors or public scrutiny of deals, but others such as venture capital firms see opportunities to reach more potential investors and funnel more startups to firms. There is uncertainty around how much crowdfunding for startups allowed under the Act may impact early-stage investors and companies.
- Ant Capital Partners is a small, private equity firm in Japan that focuses on operational improvements for small-to-medium enterprises (SMEs) through buyout deals typically between $50-150 million.
- While growth is limited in Japan's stagnant economy, SMEs remain an opportunity as over half of publicly listed companies have less than $100 million in market cap.
- In response to SMEs needing to expand overseas, Ant has taken on more cross-border deals, establishing a Hong Kong office and completing exits in China. This cross-border strategy will be integral to their future work.
Emerging markets have experienced increased volatility recently, slowing GDP growth and disappointing returns from major countries like China, India, and Brazil. This has caused some investors to pause or reallocate funds to developed markets like the US. However, total fundraising for emerging markets private equity is up this year compared to last despite the macro challenges. While selectivity has increased, the fundamental promise of long-term growth in emerging economies remains intact, and volatility may create opportunities for strong managers.
1. Exclusive: Asia partner departs MVision amid reshuffle
Published: 20 October 2014
By: Clare Burrows
Niklas Amundsson is leaving the firm, which has just hiredtwo new MDs in Hong Kong
Niklas Amundsson, a partner at MVision who helped establish its presence in Hong Kong, is no longer
working for the firm following a reorganisation that has seen founder and chief executive Mounir “Moose”
Guen move over to Asia, industry sources revealed to Private Equity International.
Amundsson will formally depart in the New Year, one source confirmed, although he is currently on a period
of leave and is not expected to return to work in the interim.
The precise reason for his departure is unclear. MVision declined to comment on the matter while
Amundsson did not respond to requests for comment.
Nevertheless, MVision’s presence in Asia has grown lately, with the number of professionals based in the
region now at 12, according to the firm.
Most recently, Michelle Paisley joined from Macquarie Bank and will be a managing director in MVision’s
Hong Kong office. Paisley was most recently a division director in Asian equities, having moved from
Sydney in 2006 to run Macquarie Securities' Hong Kong China Business. Previously, she held senior roles
at Bankers Trust and Citigroup in Sydney, and at HSBC in London.
In addition, the firm has appointed Dennis Kwan, also as managing director in Hong Kong. He worked most
recently as a principal at Sumitomo Mitsui Trust, where he was responsible for overseeing investments in its
global programme across private equity, credit and infrastructure investments.
Guen’s relocation was revealed in August by Private Equity International. He said in an earlier interview that
the move to Asia-Pacific was driven by the enormous growth potential for private equity and related
investment strategies in the region.