Tuesday, 31 March 2015
Last updated 23 min ago
Apr 3 2007 | 12:26pm ET
Investment advisory firm International Strategic Group is prepping to launch its maiden private equity fund, the China-focused China Expansion Fund-I. The New York and Shanghai-based firm will begin marketing its new offering within the next two months and is aiming to raise $200 million.
The fund will invest between $10 million to $30 million in established private companies that are at the expansion stage, according to Andrew Strott, managing partner and head of U.S. operations.
“There is tremendous deal flow and from our perspective we’re seeing everything from industrial real estate to manufacturing and healthcare services companies,” says Strott. “We won’t look at companies in high-profile industries like telecom. We tend to focus on industries away from the limelight.”
The new offering is managed by a local team based in Shanghai, which Strott says gives it a leg up when dealing with entrenched management teams leery of foreign investors.
“Foreign investors in China are having a very hard time talking to Chinese management teams and executing deals. Family run businesses are a little more reluctant to accept foreign capital but they see us as a local investment firm providing capital that’s needed,” says Strott.
Strott adds that the firm wants raise more China-focused funds, specifically a real estate fund, but there are no immediate plans for that venture.
Li Li, the former head of futures brokerage firm Zhenxin International Futures Corporation, founded International Strategic Group in 2002.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…