Скачать или смотреть Billionaire Jean Salata’s Baring Private Equity Asia Bought By European

Hong Kong-based billionaire Jean Salata’s Baring Private Equity Asia, one of the largest private equity firms in Asia, will be acquired by Stockholm-listed EQT in a deal worth $7.5 billion. Baring, which has $19.5 billion in assets under management, will be sold for $1.7 billion in cash and 191 million new ordinary EQT shares. The deal is expected to be completed in the fourth quarter of 2022.“We are thrilled to embark on this journey with EQT and by the possibilities that this combination creates,” said Salata, CEO of Baring, in a joint statement with EQT. “It is a game-changer for both our firms and will accelerate our ability to deliver superior returns for our clients.”After the EQT deal, Salata will be the head of the combined Asia business, which will be rebranded as BPEA EQT Asia. He will also join EQT’s executive committee. A citizen of Chile, Salata moved to Hong Kong in 1989 and joined Baring in 1997. In 2000 he led a management buyout of Baring. Salata appeared on Forbes’ Hong Kong Rich List this year, published in February, with a net worth of $2.95 billion, as the city’s wealthiest figure in private equity. Baring’s portfolio of 46 companies includes JD Health, the health products arm of Chinese billionaire Richard Liu’s e-commerce giant JD.com, and AI company Horizon Robotics. Baring and EQT emphasized that the strategic and cultural fit between them enhanced the deal, according to their press release, with Baring’s eight offices across the Asia-Pacific assisting EQT’s expansion in the region to 25 offices worldwide. The two firms noted that the growth of private markets in Asia continues to outpace that of Europe and North America combined, at an annualized 24% since 2015. Speaking at a Forbes Asia CEO webinar in December 2020, Salata expressed optimism for Asia’s private market to “outperform quite significantly,” particularly in the wake of the pandemic.


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