UBS establishes firm in Beijing
By Chen Li |
July 29, 2011, Friday
|
Print Edition
Print Edition
UBS Global Asset Management yesterday set up a wholly owned asset management firm in Beijing to enter China's US$650 billion private equity sector.
The Beijing branch will mainly seek private equity and fund of funds investments while also providing asset management.
"Strong economic growth in China has positioned it as one of the most promising emerging markets globally and this has resulted in a booming equity investment market," Ling Xinyuan, chairman of China operations at UBS, said.
The newly established company will invest in infrastructure projects, commercial and industrial properties and art collections.
Its art collection fund, the smallest among the Beijing company's planned funds, is expected to raise less than 1 billion yuan (US$155.2 million), Ling said.
Ling also said UBS may help fund government housing projects that will be rented to low-income families.
UBS is the latest overseas firm to expand into China's booming PE industry. Morgan Stanley, Goldman Sachs, as well as buyout firms like Blackstone and TPG have all launched joint private equity funds in China.
The Beijing branch will mainly seek private equity and fund of funds investments while also providing asset management.
"Strong economic growth in China has positioned it as one of the most promising emerging markets globally and this has resulted in a booming equity investment market," Ling Xinyuan, chairman of China operations at UBS, said.
The newly established company will invest in infrastructure projects, commercial and industrial properties and art collections.
Its art collection fund, the smallest among the Beijing company's planned funds, is expected to raise less than 1 billion yuan (US$155.2 million), Ling said.
Ling also said UBS may help fund government housing projects that will be rented to low-income families.
UBS is the latest overseas firm to expand into China's booming PE industry. Morgan Stanley, Goldman Sachs, as well as buyout firms like Blackstone and TPG have all launched joint private equity funds in China.
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