IRG Limited and Oria Capital have launched The ShinAsia Fund, an opportunity for investors to participate in the Asian technology-media-telecom (TMT) sectors.
These sectors comprise approximately 20 per cent of Asia's market capitalisation, and are the most dynamic and exciting in the region.
IRG and its professionals have a proven track record of creating significant shareholder value for clients. As the only pan-Asian TMT-focused merchant bank, IRG's senior professionals, formerly from top tier firms including Lehman Brothers and Morgan Stanley, have worked together in the Asian TMT sector for the last decade, executing over USD 20 billion in transactions, including a number of Asia's first NASDAQ IPOs, numerous cross-border buy -side and sell-side M&A transactions, re-capitalizations and restructurings.
IRG began investing its own proprietary capital 18 months ago and those investments have returned in excess of 500 per cent during that time. The ShinAsia Fund will identify unique special situations and event-driven investment ideas and will conservatively target a minimum return of 20-25 per cent annually. Through the fund, investors will have the opportunity to participate in these public and private transactions.
IRG has partnered with Oria Capital to provide fund infrastructure such as risk management, administration, legal and compliance oversight.
"As investors search the globe for investment opportunities, attention has been increasingly focused on Asia and its unparalleled growth," says Jennifer Carver, CEO of Oria Capital. "Capitalising on that growth has proven to be a complicated venture for many. Asia's hedge fund industry has been the recipient of much of the increased allocation and has experienced tremendous growth since 2002. Still, finding management teams with the expertise required to mine Asian alpha has been a challenge. We are therefore very pleased to be working with IRG, one of Asia's most respected and capable management teams."
The ShinAsia Fund will raise USD100 million by the end of first quarter 2006 and will then close. The Fund will provide monthly NAV's, and, after a two year lock up, semi-annual redemptions. Minimum investment is USD 5 million.
"We want to offer a select group of investors the opportunity to participate in IRG's investment business which takes advantage of our proprietary deal flow," says Matthew Burlage, CEO of IRG Limited. "Many of these proprietary opportunities are event-driven or special situations, and hence offer attractive returns relative to typical investment opportunities. We are pleased to launch this product with Oria Capital who can provide us with excellent risk management capabilities and infrastructure support."
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