China’s Ping An Insurance Group’s direct investment and asset management arm has raised more than $750m for its Ping An Global Infrastructure Funds thanks to an anchor investment from Ardian.
The firm said the funds would focus on telecommunication, transportation, midstream, power, utilities and other infrastructure assets, providing third party investors the opportunity to invest alongside Ping An in fund investments and co-investments.
Ping An Overseas Holdings chairman and CEO Hoi Tung said, “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.”
Jan Schmitz, head of both Ardian Asia and 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.”
PAOH offers investment products, asset management, and investment consulting services in areas 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.
Ardian is a world-leading private investment house with assets ofS$90bn managed or advised in Europe, the Americas and Asia.
It manages funds on behalf of around 800 clients through fund of funds, direct funds, infrastructure, real estate and private debt.
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