{"id":13907,"date":"2023-01-31T00:00:00","date_gmt":"2023-01-30T16:00:00","guid":{"rendered":"https:\/\/aurex-group.ap.applyflow.com\/why-rmb-fund-raising-professionals-are-dominating-right-now\/"},"modified":"2024-11-21T13:59:38","modified_gmt":"2024-11-21T05:59:38","slug":"why-rmb-fund-raising-professionals-are-dominating-right-now","status":"publish","type":"post","link":"https:\/\/www.aurexgroup.com\/insights\/why-rmb-fund-raising-professionals-are-dominating-right-now\/","title":{"rendered":"Why RMB Fund-Raising Professionals are Dominating right now"},"content":{"rendered":"<article class=\"blog-body clearfix\">\n<ul>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">More onshore fundraising activities by foreign fund managers in China. Hence, long-term commitment for investment in China\u2019s real estate market.<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">Onshore Renminbi fundraising capabilities are seen more desirable under Covid-19 pandemic to diversify investor base.\u00a0<\/span><\/p>\n<\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Setting up RMB funds is not new, but there has been an increase in popularity following the lifting of restrictions for foreign companies setting up funds in mainland China, according to a notice published by The National Development and Reform Commission in October 2022. The release of the Shanghai government\u2019s Qualified Foreign Limited Partner (QFLP) pilot programme in 2010 has given a boost in foreign investment, as well as the Private Fund Management (PFM) programme in 2016. However, apart from the rapid change of regulations and policies, foreign investors have also been facing challenges going through lengthy processing in Chinese language. Hence, a reputable local partner is desirable. The notice in October 2022 also emphasized the encouragement of bringing world-class talent into the country, which is a sign of China opening up to the world gradually after almost 3 years of pandemic, suggesting we could see an increased need for real estate investment recruitment in China and APAC. <\/span><\/p>\n<h6 dir=\"ltr\">\u200b<\/h6>\n<h3 dir=\"ltr\"><span style=\"color: #000000;\">Why is it more important to raise onshore RMB now?<\/span><\/h3>\n<p><span style=\"color: #000000;\">Although China has started to relax its covid restrictions, overseas investors are still taking a \u2018wait and see\u2019 attitude towards China\u2019s real estate market in early 2023, with implications for real estate investment recruitment as a whole. This has encouraged fund managers who already have a strong China exposure to raise onshore capital. With many foreign investors being relatively conservative towards investing in China real estate, domestic investors such as SOEs, insurance companies and trust companies. While foreign investors tend to invest in GPs with a promising track record and pipeline, domestic Chinese investors are more in favour of project-based investment instead of investing in a blind pool. <\/span><\/p>\n<h6>\u200b<\/h6>\n<h3 dir=\"ltr\"><span style=\"color: #000000;\">Who are the active RMB fund raisers in the region?<\/span><\/h3>\n<ul>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">GLP has closed GLP China Income Fund VI (\u201cGLP CIF VI\u201d), an onshore income fund with RMB 7.6 billion of assets under management. Investors in the fund include leading domestic insurance companies, as well as other existing GLP institutional investment partners.<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">CapitaLand Investment (CLI) has launched two RMB-denominated single-asset real estate funds which have raised a combined RMB3.98bn from Chinese investors, including trusts, insurance companies, SOEs and securities companies.\u00a0<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">Keppel Capital has launched a China Logistics Fund of RMB 1,400 million.<\/span><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\" role=\"presentation\"><span style=\"color: #000000;\">Lasalle has appointed Matthew Yao to lead its RMB strategy.<\/span><\/p>\n<\/li>\n<\/ul>\n<h3 dir=\"ltr\"><span style=\"color: #000000;\">Impacts on Real Estate Investment Recruitment<\/span><\/h3>\n<p dir=\"ltr\"><span style=\"color: #000000;\">When looking at real estate investment recruitment, all of the factors mentioned have led to an increase in demand for RMB fund raising professionals, especially those who have successfully raised onshore capital for foreign real estate fund managers. Not only because of their successful track record, but also their capability of managing between domestic investors and senior management within the foreign fund managers.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">If you are a company considering hiring, we welcome the opportunity to present <\/span><a href=\"\/solutions\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #000000;\">our<\/span><span style=\"color: #ea5a0a;\"> services and capabilities<\/span><\/a><span style=\"color: #000000;\">. If you are a candidate, please check our<\/span><a href=\"\/jobs\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ea5a0a;\"> jobs page<\/span><\/a><span style=\"color: #000000;\">or <\/span><a href=\"\/contact-us\"><span style=\"color: #000000;\">contact us<\/span><\/a><span style=\"color: #000000;\"> to discuss your background, skills, and future aspirations. We always look forward to staying connected and exchanging ideas, insights, and opinions.<\/span><\/p>\n<h6 dir=\"ltr\">\u200b<\/h6>\n<h5 dir=\"ltr\"><span style=\"color: #000000;\">Sources:\u00a0<\/span><\/h5>\n<ul>\n<li><a href=\"https:\/\/www.wsj.com\/articles\/expats-shun-china-over-covid-policies-forcing-foreign-firms-to-scale-back-11663720291?mod=article_inline\"><span style=\"color: #ea5a0a;\">https:\/\/www.wsj.com\/articles\/expats-shun-china-over-covid-policies-forcing-foreign-firms-to-scale-back-11663720291?mod=article_inline<\/span><\/a><\/li>\n<li>\n<p dir=\"ltr\"><a href=\"https:\/\/www.intertrustgroup.com\/insights\/why-rmb-funds-are-a-strong-draw-for-global-investors\/\"><span style=\"color: #ea5a0a;\">https:\/\/www.intertrustgroup.com\/insights\/why-rmb-funds-are-a-strong-draw-for-global-investors\/<\/span><\/a><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><a href=\"https:\/\/realassets.ipe.com\/news\/capitaland-raises-rmb4bn-for-two-real-estate-funds-updated\/10063187.article\"><span style=\"color: #ea5a0a;\">https:\/\/realassets.ipe.com\/news\/capitaland-raises-rmb4bn-for-two-real-estate-funds-updated\/10063187.article<\/span><\/a><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><a href=\"https:\/\/www.glp.com\/global\/article\/glp-closes-rmb-76-billion-china-income-fund-vi\"><span style=\"color: #ea5a0a;\">https:\/\/www.glp.com\/global\/article\/glp-closes-rmb-76-billion-china-income-fund-vi<\/span><\/a><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><a href=\"https:\/\/www.kepcorp.com\/en\/media\/media-releases-sgx-filings\/keppel-capital-launches-china-logistics-property-fund-\/\"><span style=\"color: #ea5a0a;\">https:\/\/www.kepcorp.com\/en\/media\/media-releases-sgx-filings\/keppel-capital-launches-china-logistics-property-fund-\/<\/span><\/a>\u200b<\/p>\n<\/li>\n<\/ul>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>More onshore fundraising activities by foreign fund managers in China. Hence, long-term commitment for investment in China\u2019s real estate market. Onshore Renminbi fundraising capabilities are seen more desirable under Covid-19 pandemic to diversify investor base.\u00a0 Setting up RMB funds is not new, but there has been an increase in popularity following the lifting of restrictions&hellip;<\/p>\n","protected":false},"author":1,"featured_media":13672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[44,46],"tags":[34,107,99],"class_list":["post-13907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aurex-insights","category-real-estate","tag-aurex-insights","tag-karry-zhang","tag-real-estate"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/posts\/13907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/comments?post=13907"}],"version-history":[{"count":1,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/posts\/13907\/revisions"}],"predecessor-version":[{"id":19224,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/posts\/13907\/revisions\/19224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/media\/13672"}],"wp:attachment":[{"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/media?parent=13907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/categories?post=13907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aurexgroup.com\/af-api\/wp\/v2\/tags?post=13907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}