Baring Plans First Australia Deal

Baring Private Equity is planning its first investment in Australia after closing a $2.46 billion new fund, Reuters reported. Baring Asia has invested around 50% of its previous funds in China, Reuters said. The firm is now looking for ways to bring investors from China and India into Australia, Reuters said.

(Reuters) – Baring Private Equity is eyeing its first investment in Australia after closing a new $2.46 billion fund, a top official said on Thursday.

“It’s a more established market, more a buyout market,” Jean Eric Salata, Baring’s Asia chief executive officer, told Reuters in an interview, when asked about investing in Australia.

“It’s also got some interesting links to Asia, particularly China, and that is the angle that we are developing,” he added.

Baring Asia has invested around 50 percent of its previous funds in China, Salata said, adding that the firm is considering ways to bring investors from China and India into Australia.

Earlier this month, Baring announced the closing of its biggest fund, which will focus on a range of Asian countries.

(Reporting by Stephen Aldred;; Editing by Erica Billingham)