Echo Wong

Asset allocation and investment management reporter @Bloomberg

[Lulu Yilun Chen @luluyilun]

IDG Capital, which has backed Tencent and Coinbase, has kicked off fundraising for $2 billion, according to sources

It joins other CHN-focused fund managers raising dollars from sovereign wealth funds, family offices
https://t.co/B5QXLDXW8d @echowonghk

[Lulu Yilun Chen @luluyilun]

Boyu Capital Investment Management, fresh off its deal for a majority stake in Starbucks’ China business, plans to raise $3 billion for a new fund, sources say https://t.co/RaaZGnyTjB @echowonghk

[Lulu Yilun Chen @luluyilun]

Chinese early stage funds are increasingly offering a fundraising structure that appeals to US investors wary of American compliance restrictions but keen to grow exposure to non-sensitive sectors in China https://t.co/FHpOwEpW0O @echowonghk

[Joel Chan @kjoules]

Are you an investment advisor? The English Schools Foundation has been contacting firms to see if anyone is interested to managing its roughly US$400 million endowment
@echowonghk

https://t.co/ZMYO0Ou9f5

[Bloomberg @business]

Chinese officials are intensifying efforts to tax offshore trusts that hold shares in some Hong Kong-listed companies, clamping down on a structure that the country’s mega-rich have used to invest billions of dollars overseas. https://t.co/lpMz6u8X0B

[Lulu Yilun Chen @luluyilun]

China’s biggest private insurer taps AI to unlock $174 billion value https://t.co/zOpdRHY1Vj @echowonghk Dingmin

[Umesh Desai ウメシュ デサイ @Umesh_Desai]

Scoop from @echowonghk @principal exits $800 million Hong Kong pension business. A key reason for exiting the ORSO operation is to cut costs of providing such customized services in an area of business where assets are shrinking https://t.co/uwHqasrK2k

[Echo Wong @echowonghk]

China Investment Corp., the nation’s $1.3 trillion sovereign wealth fund, is close to finalizing the sale of about $1 billion in US private equity stakes following a temporary pause in the deal, according to people familiar with the matter https://t.co/JCKytyMqOO

[Echo Wong @echowonghk]

The National University of Singapore is divesting at least $500 million in private equity and real estate funds to manage liquidity and rebalance its China exposure, according to sources https://t.co/9chOyfgMXf

[Echo Wong @echowonghk]

Ontario Municipal Employees Retirement System is cutting its Asia buyout team, marking the latest change in the pension fund’s private equity unit as it reassesses its strategy https://t.co/KWGRRYnRPo

[Echo Wong @echowonghk]

The Hong Kong Jockey Club has sold $1 billion worth of assets from its fund portfolio at a discount to Toronto-based Dawson Partners, according to sources, marking one of the biggest disposals by an asset allocator in Asia https://t.co/Cir54pWYXS

[Echo Wong @echowonghk]

Singapore sovereign wealth fund GIC is looking to offload some of its private equity fund stakes, continuing to utilize the booming secondaries market to manage its portfolio https://t.co/Dm8tyyG2sb

[Lulu Yilun Chen @luluyilun]

As global investors gathered in Singapore’s bars and ballrooms for a series of conferences and annual general meetings this month, Northstar was raised as an exemplar of Asia’s steep challenges https://t.co/weG4HlsDgj @Davidramli @oliviapohtech @DextLow @echowonghk

[Lulu Yilun Chen @luluyilun]

One of Taiwan’s largest pension funds has guided outside firms against using Hong Kong-registered entities to manage its money, underscoring the challenges facing the financial hub as it deepens ties with mainland China https://t.co/zMjc82gG2R @echowonghk

[Lulu Yilun Chen @luluyilun]

Life insurers have become the latest target in Hong Kong’s efforts to compete with Singapore in retaining talent and capital https://t.co/HLDL2v78H4 @echowonghk

[Lulu Yilun Chen @luluyilun]

China’s largest venture capital houses are tapping the market for at least $2 billion in new funds, re-engaging with the country’s startups in a signal of renewed global investor interest in areas from AI to toys. https://t.co/QUg3IIlyT0 @pingroma @echowonghk

[Lulu Yilun Chen @luluyilun]

The Hong Kong Jockey Club is divesting as much as $1 billion in funds held with Blackstone and other buyout firms https://t.co/tpykbhXC37 @echowonghk

[Echo Wong @echowonghk]

Hong Kong’s pension fund managers have formed a preliminary plan to sell down their Treasury holdings within as soon as three months if the US loses its last recognized top credit rating, according to people familiar with the matter. https://t.co/F36Fz6GLQQ

[Lulu Yilun Chen @luluyilun]

A venture capital fund backed by Fidelity Investments’ billionaire Johnson family plans to unload its Chinese technology holdings amid heightened tensions between Beijing and Washington https://t.co/ZqBMczt4uJ scoop by @echowonghk

[Lulu Yilun Chen @luluyilun]

Some Hong Kong user migrating to eMPF for the $166 billion pension system have experienced glitches, raising concerns over the platform’s reliability as the service enters a key phase of adding users https://t.co/ePUQnUODHD @ShawnaKwan @echowonghk