Welkin China Private Equity said it plans to launch an initial public offering on the London Main Market.
The company aims to raise up to USD300 million. Its investment manager is Welkin Capital Management (Asia) Ltd. As seed assets it will acquire a USD15 million interest in Welkin Fund II, plus USD15 million in interests in 10 underlying portfolio companies held by the fund.
The China-focused investment firm “will be the first investment company focused on Chinese private equity to be listed on the London Stock Exchange. This gives public investors diversified access to private market investments in China, through funds managed by Welkin and selected external managers,” said Chair Ivan Chu.
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Further, it touts its portfolio of Chinese as “broadly diversified”, adding that the private equity market in China is worth USD1.8 trillion.
“We believe China’s economy is undergoing a structural shift over the next decade, moving away from volume-fuelled expansion to productivity-led growth. Changes in government policies over the past year reflect this shift.” said Johnny Kong, Chief Executive Officer & Co-Founder of Welkin Capital Management (Asia).
Kong continues: “While there has been a period of immense volatility in the public markets, secular growth drivers continue to provide support for long-term investment in the next stage of China’s economic transformation.”
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