RRJ Capital
 | |
| Company type | Private |
|---|---|
| Industry | Private Equity |
| Founded | 2011 |
| Headquarters | Singapore |
Key people | Richard Ong Charles Ong |
| AUM | US$15 billion (2023)[1] |
| Website | www |
RRJ Capital is a private equity firm based in Singapore. It is one of the largest private equity firms based in Asia.[2][3]
Background
[edit]RRJ Capital, founded in March 2011 by Richard Ong who is currently chairman and CEO. Ong was previously Co-head of Asia investment banking at Goldman Sachs. The name "RRJ" is named after his three children. His brother, Charles Ong joined RRJ Capital in 2012 and is currently co-CEO and co-chairman. Previously, Charles was the chief strategist of Singaporean sovereign wealth fund Temasek Holdings.[4][5][6][7][8]
The firm mainly invests in companies based in China and South-East Asia. Its investment industries include healthcare, financial institutions, technology, and logistics.[4][5][6][7][8]
In December 2023, it was reported that RRJ Capital would be aiming to raise $2 billion for its first private credit fund.[9]
Funds
[edit]| Fund[10] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| RRJ Capital Master Fund I | 2011 | USD 2,300 |
| RRJ Capital Master Fund II | 2013 | USD 3,600 |
| RRJ Capital Real Estate Fund | 2014 | N/A |
| RRJ Capital Master Fund III | 2015 | USD 4,500 |
| RRJ Capital Master Fund IV | 2020 | USD 235 |
Transactions
[edit]In 2013 and 2015, RRJ Capital invested in two Hong Kong-listed mainland real estate property stocks, Logan Property Holding and CIFI Holdings.[8]
In 2014, RRJ Capital was the only non-Chinese direct investor in the acquisition of 30% of Chinese oil company, Sinopec.[11]
In May 2014, RRJ Capital and Temasek Holdings invested $1.8 Billion in the NN Group before its initial public offering.[12]
In November 2014, RRJ Capital and Temasek Holdings purchased $1 billion of convertible notes issued by Houston-based Cheniere Energy Inc.[13]
In July 2018, RRJ Capita invested around $1.3 billion in companies owned by HNA Group.[14] By then RRJ had a minority stake in insurance company FWD Group, which was reportedly laying the groundwork for an IPO in 2018.[15]
In April 2019, RRJ Capital completed the acquisition of all outstanding shares in Gategroup from HNA Group. As a result, RRJ Capital became the sole shareholder and Temasek was invested in Gategroup through a mandatory exchangeable bond.[16] In September 2019, Temasek converted the mandatory exchangeable bond to acquire 50% stake in Gategroup, making Temasek and RRJ co-shareholders.[17]
In March 2021, RRJ Capital invested €450 million in Vodafone's Vantage Towers as part of its initial public offering.[18]
References
[edit]- ^ "RRJ Capital". RRJ Capital official website.
- ^ Carew, Rick (1 October 2015). "RRJ Capital Raises $4.5 Billion in Largest Asian Private-Equity Firm Fundraising". Wall Street Journal. ISSN 0099-9660. Retrieved 17 March 2021.
- ^ "Lead Story: New administration piques RRJ Capital's interest in Malaysia". The Edge Markets. 22 April 2019.
- ^ a b Browne, Dinny McMahon And Andrew (20 February 2011). "Hopu's Ong Plans His Own Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 15 July 2023.
- ^ a b WSJ, Rick Carew. "RRJ Capital closes biggest private equity fundraising by an Asian firm". www.fnlondon.com. Retrieved 15 July 2023.
- ^ a b Flaherty, Saeed Azhar, Michael (2 September 2011). "Asia's dealmaking Ong brothers join forces again". Reuters. Retrieved 17 March 2021.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ a b Hughes, Jennifer (8 January 2015). "RRJ Capital plans to raise record $4bn for new Asia fund". www.ft.com. Retrieved 15 July 2023.
- ^ a b c "Can RRJ Capital repeat its Midas touch with Lai Sun Development?". South China Morning Post. 29 August 2017. Retrieved 17 March 2021.
- ^ "PE Firm RRJ Seeks to Raise $2 Billion for New Asia Private Credit Fund". Bloomberg.com. 5 December 2023. Retrieved 5 December 2023.
- ^ "RRJ Capital | Palico". www.palico.com. Retrieved 17 March 2021.
- ^ Kong, Alec Macfarlane at SuperReturn in Hong. "Richard Ong dismisses China fears". www.fnlondon.com. Retrieved 17 March 2021.
- ^ "RRJ, Temasek to Invest $1.8 Billion in ING Insurance Unit". Insurance Journal. 1 May 2014. Retrieved 17 March 2021.
- ^ Carew, Rick (11 November 2014). "RRJ Capital and Temasek Buy $1 Billion in Cheniere Energy Convertible Bonds". Wall Street Journal. ISSN 0099-9660. Retrieved 17 March 2021.
- ^ "Private equity firm RRJ takes stake in Avolon parent entity". independent. Retrieved 17 March 2021.
- ^ "Hong Kong Billionaire Richard Li Weighs Insurance IPO". Bloomberg.com. 26 June 2018. Retrieved 17 March 2021.
- ^ "HNA Group sells stake in gategroup in latest divestment". Breaking Travel News. Retrieved 17 March 2021.
- ^ "Temasek acquires 50% stake in airline catering firm gategroup". www.verdictfoodservice.com. 25 September 2019. Retrieved 17 March 2021.
- ^ "TOP NEWS: Vodafone's Vantage Towers prices IPO; EUR950 million backing". MorningstarUK. 9 March 2021. Retrieved 17 March 2021.
