Baring invests in Chinese dictionary group

In its first major transaction since its own buyout from ING Group, Baring Private Equity International’s Asian group has invested $15m in a Chinese electronic educational products group.

Baring Private Equity Partners Asia (Baring Asia) has invested $15 million (€12 million) in Shenzhen, China-headquartered Noah Technology Holdings.

Noah Technology develops, manufactures and distributes electronic educational products to the domestic Chinese consumer market and had a 22 percent market share in 2003.

Jean Salata, managing partner of Baring Asia, said in a statement: “This latest investment is part of our strategy to invest in companies in China that are direct beneficiaries of growing domestic demand. This is a long term investment and we are planning to list the company on the Hong Kong Stock Exchange in the next two years.”

Baring Asia has over $560 million of committed capital invested in Asia, managing two funds, Baring Asia Private Equity Funds I and II. The group has offices in Hong Kong, Singapore, Shanghai and Delhi, with a team of 20 investment professionals.

On 1st June this year, the Baring group announced its own buyout from Dutch parent bank ING Group, forming a new entity that trades as Baring Private Equity International (BPEI).

Under the restructuring of the organisation, the senior partners managing BPEI’s regional and country funds took ownership of their respective businesses. Apart from Asia, the group has regional funds with local investment teams in Western Europe, Central Europe, India, Latin America and Russia.

BPEI has more than $2 billion in global funds under management.