Over the past 12 months, China-focused managers have continued their relentless climb up the PEI 300. But none have made more of a splash than RRJ Capital. The Chinese firm was the biggest climber this year, making it into the top 50 for the first time with a five-year fundraising total of $5.8 billion.
The Hong Kong-based group was formed in 2011 when co-founder and co-chairman, Richard Ong, formerly head of Asia investment banking at Goldman Sachs, spun out of his private equity firm Hopu Investment Management. His brother Charles Ong, who had previously spent 10 years at Singaporean sovereign wealth fund Temasek Holdings, holding positions including chief investment officer and chief strategy officer, joined him as the co-founder and co-chairman.
Given these credentials, it’s not surprising the firm has raised money so quickly and so successfully. Industry sources always cite its strong China network as the reason for its success. But while the firm mainly invests in China, it also invests in Southeast Asia and India opportunistically and can also put money to work in the US or Europe to bring businesses across to Asia Pacific.