Friday, 22 May 2015
Last updated 1 hour ago
Jan 22 2007 | 12:39pm ET
Media and communications-focused private equity fund Providence Equity Partners is opening offices in Hong Kong and New Delhi to support its growing investment activities across Asia.
Andrew Rickards, who currently serves as chief executive officer of N.M. Rothschild & Sons in Asia and is former co-head of Communications, Media & Entertainment (CME) Asia Pacific for Goldman Sachs, will join Providence to lead its Asia investment activities. He will serve as a managing director based in Hong Kong where he will be joined by Thura Ko, currently an assistant director at Rothschild in Asia and a former member of the CME team at Goldman Sachs in Asia.
Biswajit Subramanian, a managing director of Providence Equity in London who joined the firm in 2000, will head the new office in New Delhi. Subramanian has been involved in Providence investments in telephone networks, cable television systems, programming content and wireless, among other industry segments. He currently serves as a director on the boards of several Providence Equity portfolio companies, including Hallmark International, Recoletos Grupo de Comunicación and India-based Idea Cellular, a recent investment which he led for Providence Equity. He is also a member of the supervisory board of Kabel Deutschland.
“Providence has been active in Asia for some time, and we are fortunate to have built strong relationships with proven managers and investors across the region,” said Jonathan Nelson, chief executive officer of the Providence, RI-headquartered firm. “Given our existing relationships in Asia, the broad range of investment opportunities we are seeing in our target sectors, and the fact that we have the right team in Andrew and Bis, we feel now is an opportune time to formally establish offices in Hong Kong and India.”
The principals of Providence Equity manage funds with $20 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm's inception in 1990.
Significant investments include Bresnan Broadband Holdings, Casema, Comhem, Digiturk, Education Management Corporation, eircom, Freedom Communications, Idea Cellular, Kabel Deutschland, Metro-Goldwyn-Mayer, Ono, PanAmSat, ProSiebenSat.1, Recoletos, SunGard, TDC, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment Sports Network.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…