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UBS unveils asset management firm in Beijing
By Lydia Chen |
July 28, 2011, Thursday
|
Online Edition
Online Edition
UBS Global Asset Management today set up its wholly-owned asset management company in Beijing to tap into China's fledging US$650 billion equity investment industry.
The Beijing branch will target business in areas such as direct PE investments, fund of funds investments, as well as mandated equity investment assets management.
"China's strong economic growth has made the country one of the most promising emerging markets globally and resulted in a booming domestic equity investment market," Ling Xinyuan, chairman of China at the Swiss bank, said in a statement today.
The new company will put its raised money in industries, infrastructure projects, commercial and industrial properties, and art collection businesses.
Its art collection fund, the smallest of the Beijing company's planned funds, is expected to raise less than 1 billion yuan, Ling said.
He said he felt positive that his company may play a role in funding China's public rent housing projects, which could be a profitable business.
UBS is the latest global investor to enter China's booming PE market. Foreign investment giants such as Morgan Stanley, Goldman Sachs and global buyout firms Blackstone, Carlyle and TPG have all launched their joint private equity funds in China as the country leans more on the private sector for new economic growth.
China hopes that the expertise brought by foreign buyout firms can boost the domestic PE market and helps improve local corporate governance.
By the end of June, the total capital committed to China's PE market reached US$652 billion, according to Zero2IPO, a leading Chinese financial analysis firm.
The Beijing branch will target business in areas such as direct PE investments, fund of funds investments, as well as mandated equity investment assets management.
"China's strong economic growth has made the country one of the most promising emerging markets globally and resulted in a booming domestic equity investment market," Ling Xinyuan, chairman of China at the Swiss bank, said in a statement today.
The new company will put its raised money in industries, infrastructure projects, commercial and industrial properties, and art collection businesses.
Its art collection fund, the smallest of the Beijing company's planned funds, is expected to raise less than 1 billion yuan, Ling said.
He said he felt positive that his company may play a role in funding China's public rent housing projects, which could be a profitable business.
UBS is the latest global investor to enter China's booming PE market. Foreign investment giants such as Morgan Stanley, Goldman Sachs and global buyout firms Blackstone, Carlyle and TPG have all launched their joint private equity funds in China as the country leans more on the private sector for new economic growth.
China hopes that the expertise brought by foreign buyout firms can boost the domestic PE market and helps improve local corporate governance.
By the end of June, the total capital committed to China's PE market reached US$652 billion, according to Zero2IPO, a leading Chinese financial analysis firm.
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