BDA is pleased to announce that its client, Investcorp, a global manager of alternative investment products, has made its first private equity investment in China. BDA provided valuation advisory services on Investcorp’s investment of up to $250m in the China Everbright Limited New Economy Fund.
China Everbright Limited New Economy Fund has invested in high-profile companies in Greater China, including:
• one of the world’s largest unlisted mobile e-commerce platforms;
• one of the biggest long-form online video platforms;
• the largest online-to-offline company for consumer services;
• a leading deep-learning artificial intelligence platform;
• a popular short-form mobile video sharing platform;
• one of the leading technology-driven smart retail companies; and
• a leading smart wireless headphone company.
BDA helped Investcorp assess and value these privately-held high-growth assets across Greater China and the US, to support Investcorp’s internal investment process and its external negotiations.
Investcorp partnered with China Everbright, a reputable sovereign-backed asset manager, listed on the Hong Kong Stock Exchange (Everbright, 165.HK). Investcorp has agreed an investment of up to $150m in the second round of the China Everbright Limited New Economy Fund, as well as an additional co-investment right of up to $100m. In the first round, the Fund received an aggregate commitment of $313m from other investors that has been deployed into high-growth Chinese technology companies that operate in a range of market segments from e-commerce and internet services, to smart retail and artificial intelligence.
Matthew Doull, Head of Internet and Digital Media, BDA Partners Hong Kong, said: “We’re delighted to have advised Investcorp on its first private equity investment in China, capitalizing on the economic transformation and technology revolution in the world’s second-largest economy. China is increasingly attractive for private equity investing. BDA has offered investment banking on the ground in China for 20 years. We’re pleased that Investcorp, a global leader, chose BDA to assist in entering this indispensable market”.
Matthew Doull, Managing Director, Hong Kong
Dorothy Cai, Director, Shanghai
Jonathan Fein, VP, Singapore
Patrick Chin, Associate, Hong Kong
Derek Tse, Analyst, Hong Kong
Ben Chen, Analyst, Hong Kong
Mattvei Mojeiko, Analyst, Hong Kong
John Wu, Analyst, Hong Kong
Investcorp is a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating investor and shareholder value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management. www.investcorp.com
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 20 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Tokyo, Seoul, Shanghai, Hong Kong, Ho Chi Minh City, Singapore and Mumbai. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. www.bdapartners.com
BDA was named Investment Bank of the Year 2017 by both The M&A Advisor and ACG New York. BDA formed partnerships with William Blair & Company in 2011 and Development Bank of Japan in 2017.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors.