Ping An Overseas Holdings has closed its infrastructure funds at about $758 million. The funds will focus on telecommunication, transportation, midstream, power, utilities and other infrastructure assets. Ardian is the anchor investor.
HONG KONG, April 16, 2019 /PRNewswire/ — China Ping An Insurance Overseas (Holdings) Limited, together with its subsidiaries (“PAOH”), the main overseas platform for direct investments and asset management of Ping An Insurance (Group) Company of China, Ltd. (2318.HK, 601318.SH), announced the closing of approximately US$758 million in capital commitments to its Ping An Global Infrastructure Funds.
The Funds’ investments will be focused on telecommunication, transportation, midstream, power, utilities and other infrastructure assets. They provide third party investors the opportunity to invest alongside Ping An in fund investments and co-investments in the infrastructure sector in primarily OECD countries. The Funds’ investment strategy builds on Ping An’s more than 10-year track record of successful infrastructure investment in China and overseas.
“We are very pleased to see the completion of the fundraising for our Global Infrastructure Funds, which marks our first step in successfully turning our strong in-house investment capabilities into making a truly global asset management business. We are also very delighted to have Ardian, a world-leading alternative investment house, to anchor our Funds. To follow upon the tremendous success in our asset management business in China, PAOH aspires to become a leading asset manager in Asia with a focus on alternative asset class investing as well as on applying the latest quantitative research and AI technology to investing. The launch of our Funds is our first important step towards the realization of our aspiration and we look forward to offering and sharing more investment opportunities with third-party investors in the future,” said Mr. Hoi Tung, Chairman and CEO of China Ping An Insurance Overseas (Holdings) Limited.
The Funds were partially seeded by Ping An with fund investments and co-investments. Ping An is a Limited Partner in the Funds and has committed to invest alongside the Funds’ investors in new primary investments. “The Funds will leverage on Ping An’s strong relationships with leading infrastructure asset management groups in which we are significant Limited Partners and we will find attractive opportunities to achieve long-term capital appreciation and strong cash dividend yields for the Funds’ investors,” said Mr. Dennis Chan, Head of Infrastructure and Managing Director, China Ping An Insurance Overseas (Holdings) Limited.
Ardian is a world-leading private investment house with US$90 billion of assets managed or advised that has particular strengths in fund of funds, direct funds and infrastructure. Jan P. Schmitz, Member of the Executive Board and Head of Ardian Asia and Head of Ardian Germany, said: “We see this as an opportunity for Ardian to partner with a highly experienced team with a great track-record that we got to know well during the lengthy bilateral discussions that ultimately led to this transaction. This complex carve-out transaction is the perfect example of what we are able to offer to financial institutions in terms of portfolio and team structuring. Ping An has been a pioneer in China’s asset management industry and we look forward to supporting the team.”
About China Ping An Insurance Overseas (Holdings) Limited
China Ping An Insurance Overseas (Holdings) Limited is a direct wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. (2318.HK), and is Ping An’s main overseas platform for direct investments and asset management. Ping An Overseas Holdings offers a wide range of investment products, asset management, and investment consulting services, from alternative investments, including private equity, infrastructure, real estate and private credit assets, to capital markets investments in fixed income investments, ETF, Cross-Asset Risk Premia investments and more. Ping An Overseas Holdings and its subsidiaries draw on their strong investment research and portfolio management capabilities to provide our customers with comprehensive value-added services and solutions.
Ardian is a world-leading private investment house with assets of US$90 billion managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close to its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 585 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.