Wednesday, 31 August 2016
Last updated 1 hour ago
Mar 14 2008 | 10:31am ET
Alternative asset manager GLG Partners has teamed up with Beijing, China-based investment and consultancy firm Origo Sino-India to explore private equity opportunities in the fast-rising Asian markets.
Origo has agreed to provide GLG with research services for three years for a fee of £3 million (US$6 million) that will include analysis, evaluation and generation of investment opportunities in the Chinese and Indian markets. In addition, GLG has agreed to invest approximately £17.1 million (US$34 million) in Origo through the placement of new Origo ordinary shares. Following completion of the placement, GLG will own approximately 29.6% of the outstanding share capital of Origo.
“Origo owns an interesting portfolio of proprietary investments primarily in China and India and has an exciting pipeline of investment opportunities in these markets”, said Greg Coffey, a Senior Managing Director of GLG.
GLG’s funds also own investments in Origo Resource Partners, an investment fund to which Origo is a consultant.