Yangzijiang Financial has entered a deal to provide investment advisory services to a family office with around US$360 million under management.
Yangzijiang Financial Holding (YZJFH), via its wholly-owned subsidiary GEM Asset Management, has entered a deal to provide investment advisory services to a family office, with S$500 million, or around US$360 million, in assets under management (AUM), the company said in a filing to SGX Wednesday.
In addition, GEM, which is a Singapore-based fund management company, will be setting up and managing a new fund with an AUM of up to S$200 million, the filing indicated.
Setting Up New Fund
YZJFH will contribute S$60 million to the fund, called GEM Asia Growth Fund, and the company is in talks with external parties to raise the remaining S$140 million,. The fund will focus on growth opportunities in Asia’s middle-market businesses, with plans to invest mainly in companies at the growth or mezzanine stage and in need of a capital infusion.
Vincent Toe, CEO and chief investment officer of YZJFH, said the company was in talks to with potential partners and with funds to manage third-party funds.
«There continues to be strong demand for the set-up of new family offices and funds as well as progress in wealth management in Singapore and I believe that we will be able to consistently grow our AUM,» Toe said in the statement.
Before its recent listing on SGX, YZJFH said its key investment themes would be late-stage companies, including pre-initial public offering (IPO) companies, ESG, New Economy, real estate and opportunistic investments, including as IPO anchor investors and special situations.
This item originally appeared on «Shenton Wire».
