Livingstone, an independent, international investment banking firm, has launched Livingstone Beijing through a joint venture with local investment bank Baron Group. Livingstone has worked successfully with Baron in China for more than six years.
Livingstone, the leading independent, international investment banking firm, has announced the launch of Livingstone Beijing through a joint venture with established local investment bank Baron Group. Livingstone has worked successfully with Baron in China for more than six years.
The Livingstone Beijing team joins the firm’s existing international offices in London, Madrid and Dusseldorf and gives clients access to the most acquisitive state-owned and private sector groups and investors across China and Hong Kong. The office will be staffed with a combination of Baron and Livingstone team members, and will also benefit from access to Baron’s other offices in Hong Kong and Mainland China.
David Sulaski, Livingstone’s co-founding partner commented, “Our teams in Chicago and Europe have provided our clients with deep coverage of the key Western M&A markets for many years. Since 2007, we have been exploring creative ways of accessing acquirers and investment capital from China and Asia generally. We concluded that there was no substitute to establishing our own physical presence and we are delighted to enhance our service to clients in this way by joining-up with trusted local experts.”
The joint venture with Baron means that Livingstone deal professionals will be working hand-in-hand with Baron in Beijing and Hong Kong, leveraging its existing relationships with many of China’s most active groups. Livingstone has recruited new team members into its offices to coordinate deal activity with China.
Jade Wang, Head of M&A for Baron in China, commented, “There is a lot of interest among Chinese groups, many of them in the Industrial and Consumer Product sectors, in acquiring established businesses across the Western economies. With China’s domestic market evolving fast, the population of cross-border Chinese purchasers is modest but growing rapidly. Livingstone’s clients now have access to this relevant universe, and Baron will improve its access to interesting overseas investment opportunities for our acquisitive Chinese clients.”
The addition of the Beijing office brings Livingstone’s professionals headcount to 60 across five teams after a busy 2011 in which the firm closed 40 transactions worth $2 billion.