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HSBC’s Asian PE Arm Completes Management Buyout

01 December, 2010

The management team of HSBC Private Equity (Asia) Limited or HPEA, the regional PE arm of HSBC Group Holdings PLC (HBC), has completed its buyout of the company and re-christened it Headland Capital Partners Ltd.

According to the terms of the buyout which was completed on Tuesday, Headland’s management team owns 80.1% of the company, while HSBC retains a 19.9% stake. HSBC also remains one of the largest investors in the funds that Headland advises.

According to a statement made by George Raffini, Managing Partner of the re-christened Headland Capital Partners, 16 members of the management team have joined as owners of the company.

“Initially, 16 colleagues are joining me as owners of our business. The team is truly excited about this next phase in our firm’s development, while continuing the relationship with HSBC,” Raffini said.

“Following the buyout, Headland’s team looks forward to continuing our close partnership with portfolio companies and delivering attractive returns to our funds’ investors,” he said.

Headland continues to advise funds with committed capital of approximately $2.4 billion, including the Headland Private Equity Fund 6 L.P., the Headland Private Equity Fund 3 Limited, the Headland Asian Ventures Fund 3 Limited, and the Headland Asian Ventures Fund 2 Limited.  Funds advised by Headland have invested in more than 140 companies located primarily in Greater China, South Korea, Southeast Asia and India.

“We believe that Headland is well-positioned to capitalise on the attractive economic fundamentals and business trends in much of Asia. We focus on investing in companies which have the prospect of out-competing rivals, gaining industry dominance and achieving profitable growth” said Marcus Thompson, another Managing Partner of Headland Capital Partners.

Headland advised its initial private equity fund in 1989 and is currently advising its fifth and sixth Asian private equity funds and its second and third Asian venture funds. The firm most recently raised The Headland Private Equity Fund 6 L.P. in 2008 which has committed capital of $1.34 billion and The Headland Asian Ventures Fund 3 Limited in 2009 with committed capital of $230 million.

During its history, Headland has advised six private equity and three venture funds, as well as several country-specific funds, with aggregate capital of approximately $3.4 billion.

In India, HPEA, now Headland, had exited from Merit Tree Services Pvt Lts by selling its stake to Manipal Group in May 2007. It made investments in Sharekhan in 2000, and in Anil Ambani-controlled Reliance Infratel in 2007.

In healthcare, it invested in Chennai-based equipment makers Trivitron in 2007. The fund invested in two software firms as well, NewGen in 2008 beginning with $7.5 million followed by FINO Ltd in end 2009. In June 2010 it made a $10.64 million investment in Avitel Post Studios Ltd.


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HSBC’s Asian PE Arm Completes Management Buyout

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