PR Newswire | 05 Apr, 2012
NEW DELHI: According to insiders, the joint venture of Baizbt, LLC (USA Boston Asset Management Co., Limited) (hereinafter referred to as BZBT), an alternative private fund management company, has received relevant license of RBI. BZBT will officially start its private fund plan in the Asia Pacific region with India as the center. Taking America as the starting point, BZBT will offer extensive and professional capital solutions based on six financial organizations in India, namely Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Religare Finvest Limited, Sundaram Finance Limited and Union Bank of India. The capital promised by Baizbt, LLC for this time is $2,000,000,000. As an industrial investment group founded in 2006, BZBT has directly invested in ten companies with the headquarters in India and realized resale many times. "During our initial public offerings in 2006 and 2010, no one was interested in the Asia Pacific. But I feel the Asia Pacific has become the center of the world. BZBT has managed capital of $1,000,000,000 in the Asia Pacific region. We will collect $2,000,000,000 for the investment in Asia Pacific. The tenet for BZBT is to aim at the unlisted companies in India and China and create and develop alternative investment opportunities."
BZBT was founded in 2006 by Arthur Patter. (Arthur Patter: MBA of the Wharton School and School of Arts and Sciences of the University of Pennsylvania in 1990; Bachelor of Science of University of California at Berkeley; Vice President of Legg Mason Investments) It has offices in New York, Paris, Tokyo and Sydney. Arthur Patter refuses to tell the amount of capital that has been collected for the newly founded fund. For more information about the fund collection, please visit www.bzbt.com.
Although there are a number of major obstacles for finding the investment objectives and concluding the transaction in the Asia Pacific region (for example, the supervision is unfair and most of the largest companies are controlled by large comprehensive family firms), the economy here is in rapid growth and more fund companies are willing to take a try.
According to data from Dealogic, the private fund investment publicized by the Asia Pacific Private Fund Organization in 2011 was nearly $16,800,000,000. Although it was less than that in 2010, analyzers and investors said that in the coming few years, the new capital entering the Asia Pacific region in form of private fund investment would bring annual transactions to more than $23,000,000,000.
"Since it was founded in 2006, we have experienced several fluctuant periods in the macro-environment. It will generally bring extremely attractive transaction opportunities for us," said Lei Long (Joint Founder in Asia of BZBT Group and Managing Director in Asia).
Tu Fuzhou, another joint partner of BZBT Group and General Manager of Tokyo Director said that the BZBT Group would realize at least twice resale in 2012. The stability, paying attention to the teamwork and the validated investment flow will help the BZBT Group realize this great milestone in the new financing environment. The BZBT Group will strive to choose Indian companies with rapid development in the middle market to create diverse investment combinations. Key investment fields include new energy, the animation industry, energy saving and environmentally friendly industries, financial service, mining, new technologies, infrastructures, medical care and consumption necessities.
"We are optimistic about the current market environment. The macro economy has many uncertainties, especially in Europe and China, which offer a number of new opportunities for us. Appraised value and price-to-earnings ratios of companies have declined across the globe. It is undoubtedly the best opportunity for us to seek new investment chances. We will find more investment opportunities across Asia, especially in Indonesia, China and Singapore," said Arthur Patter, the Founder of BZBT Group and Managing Director.
SOURCE USA Boston Asset Management Co., Limited
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