Ng Jun Hao

🚨 Breaking: Nuveen, a TIAA company partners with Hunter Point Capital LP & Temasek. Deal snapshot: 🧱 Structure: HPC and Temasek to take minority stakes in Nuveen Private Capital (NPC); Nuveen retains majority ownership. 💰 Firepower: Temasek providing long-term capital to scale new and existing strategies. 🧭 Continuity: Strategy, leadership, and day-to-day operations remain unchanged. Platform at a glance: 📦 ~$87bn AUM across Churchill Asset Management (US) and Arcmont Asset Management (Europe) under the Nuveen umbrella. 🧩 Focus areas: senior lending, junior capital, capital solutions, co-invests & secondaries. Why it matters (my take): 🔋 More balance-sheet capacity for unitranche, hybrid, NAV & structured solutions across US/EU sponsor finance. 🌍 Reinforces private credit’s secular growth—and the role of strategic/sovereign capital as accelerants. Kudos to the leaders driving this: Bill Huffman • Ken Kencel • Anthony Fobel• Avshalom Kalichstein • Bennett Goodman #PrivateCredit #DirectLending #Alternatives #Nuveen #Churchill #Arcmont #HunterPointCapital #Temasek

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In the capital market, some companies rise to glory after a spectacular debut, while others tumble from their peaks, leaving investors with regret. Though every Initial Public Offering (IPO) carries the hopes and expectations of the market, their ultimate destinies often diverge dramatically. In 2012, the world witnessed two heavyweight IPOs: FGV Holdings and Facebook (now Meta). In June 2012, FGV made its debut on Bursa Malaysia. It was not only the largest IPO in Malaysia that year but also the second-largest globally after Facebook, instantly becoming the market’s focus. The issue price was set at RM4.55, oversubscribed by 6.75 times, and on its first trading day, the stock price surged 20%, leaving unsuccessful applicants envious. Yet, as time went on, FGV’s performance steadily deteriorated. By the time it was delisted on August 28, its share price had collapsed to just RM1.30 - a staggering plunge of more than 70% from its issue price. That same year, across the ocean, another IPO captured global attention. Facebook went public on Nasdaq at $38 per share, making it the largest IPO in the world at that time. Initially, the market was skeptical, questioning whether it was overvalued. Its stock price faltered, even break below $20. Many investors abandoned ship, dismissing it as nothing more than an internet bubble. Yet, those who held on with patience and conviction experienced a completely different outcome. More than a decade later, Facebook has evolved into Meta. With its social media empire, dominance in digital advertising, and bold moves into the metaverse and artificial intelligence, its stock price has soared past $700. In just over ten years, the journey from doubt to legend reflects an extraordinary divergence in destiny. Back home in Malaysia’s market, even the mightiest “share price king” - Nestlé - once broke through RM160, a dazzling feat locally, but modest when viewed from a global lens. The appeal of U.S. equities lies in their growth potential. Many American companies are born with a global "DNA", their businesses spanning continents. Meta, for example, serves users worldwide and generates revenue from advertisers across the globe. Its advantages in scale and technology allow it to continuously push boundaries, fueling rapid growth in revenue and profits. While differences in market structure and growth capacity are undeniable, investors who expand their vision internationally can uncover a much wider horizon and greater opportunities. Allocating part of a portfolio to global markets enables participation in the growth stories of international giants while capturing the strengths of different markets. Behind these different destinies lies the power of different choices. Those who embrace diversification and dare to step beyond geographical boundaries stand the best chance of seizing the opportunities for long-term wealth creation. https://lnkd.in/g85mb6f9

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Focus on growing AUM and fee income business by sourcing more third party capital. Reiterate long-term target to double total AUM to ~US$100bn - Including the newly-formed SCPREF with S$8.2bn or US$6.4bn AUM (see our report on Feb 4), HKLand's total AUM now amounts to ~US$50bn (vs. US$41bn in FY23). Management reiterated their long-term target to double the total AUM to ~US$100bn by FY35E by looking for more third-party capital and redeploy the recycled capital for new projects. Geographically, already with a presence in HK, mainland China and Singapore, they are exploring opportunities in other Asia gateway cities such as Tokyo and Seoul which also serve as financial centers with lots of high-net-worth individuals. In response to questions at the briefing about the possibility of spinning off its China IP to C-REIT, management said they will continue to monitor the market development and conditions, but noted that its projects in China (e.g., The Ring series) may take time to ramp up their rental performance.

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EXCERPTS: [Singapore] Home-grown biotech firm Mirxes will join the Hang Seng Composite Index on Sep 8, the startup announced on Saturday (Aug 23).  The Hang Seng Composite Index is a benchmark which covers about 95 per cent of the total market capitalisation of companies listed on the Hong Kong mainboard. It includes top Chinese firms such as Alibaba and Tencent. The Hang Seng Index, on the other hand, includes only the largest and most liquid stocks listed in Hong Kong, and has only 85 constituents currently. “This significant milestone elevates the company’s market profile and enhances its strategic position within the Hong Kong and wider Asian capital markets,” said Mirxes. “Inclusion in the Hang Seng Composite Index is a powerful testament to Mirxes’ strong market position and solid performance since its listing on the Hong Kong Stock Exchange three months ago.” The inclusion may also enable the company’s shares to be traded among “a vast pool of investors in mainland China” through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect schemes. This would provide it with access to a crucial new source of capital to support its long-term growth and innovation pipeline, noted Mirxes. Mirxes, founded in 2014, focuses on microRNA-based cancer detection. Its flagship product, GastroClear, is the world’s first molecular blood test approved for early detection of gastric cancer in high-risk populations.

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Temasek’s Seatown just raised another nine hundred million dollars for its third private credit fund. The signal is clear. Asia’s private credit cycle is no longer emerging. It is accelerating. For years, global allocators viewed Asia as a peripheral sleeve. Interesting, fast growing, but not yet institutional in structure or scale. That mindset is shifting quickly. What stands out in this latest raise is not just the number. It is the composition of investors coming in. Sovereign funds. Pension plans. Global insurers. The people who move only when certainty outweighs hesitation. When they build for long term cycles rather than opportunistic trades. Why now? • Banks across the region remain cautious, prioritising capital buffers instead of business lending. • Mid market companies are increasingly seeking bespoke solutions that public markets cannot provide. • Investors are learning that Asia’s risk adjusted returns do not need to mirror the United States or Europe. In many cases, they are structurally better. The expansion of Seatown’s strategy is a reminder that private credit in Asia is no longer defined by scarcity of capital. It is defined by scarcity of disciplined managers who can originate, structure and monitor real economy transactions with institutional rigour. As more capital enters the space, the winners will not be those who simply deploy faster. They will be those who stay selective, maintain strict underwriting standards, and build long term relationships with borrowers who value reliability over cheap money. At Tigris, we see this moment as an opportunity. The world is realising what we see every day on the ground. Asia is not a frontier for private credit. It is one of the few regions where the structural gap between capital supply and economic demand is widening. Read original article: https://lnkd.in/g-iMehB6 Independent Insight. Institutional Reach. Reliable Returns. #PrivateCredit #AsiaMarkets #Temasek #Seatown #AlternativeInvestments #TigrisAssetManagement

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HSBC has appointed two senior executives in Singapore to strengthen its China‑ASEAN corridor proposition across wealth and corporate banking. Ying Wang has been named **Head of Distribution, International Wealth and Premier Banking (IWPB), Singapore**, reporting to Ashmita Acharya. In the role, she will oversee all sales and service channels, including the international wealth hub, direct sales and contact centre, with a focus on designing and scaling omnichannel distribution. Wang previously served as **Head of Wealth and Premier Solutions at HSBC China** and brings more than 20 years of experience in wealth management and digital channels. Separately, Irene Zeng has been appointed **Managing Director, Head of Business Development, China Corridor, Corporate and Institutional Banking (CIB), Singapore**, reporting to Gilbert Ng, CFA. In this newly created role, she will focus on supporting Chinese companies and entrepreneurs expanding into Singapore and the wider ASEAN region. Zeng most recently led **Global Payments Solutions at HSBC China** and has over 25 years of experience in corporate and transaction banking. HSBC said the appointments are aimed at bolstering its China corridor strategy, leveraging Singapore’s position as a regional trade and business hub to support cross‑border growth. **Source:** finews.asia #HSBC #LeadershipMoves #Singapore #ChinaASEAN #WealthManagement #CorporateBanking #AsiaPacific

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