RRJ Capital

RRJ Capital is a private equity firm based in Singapore. It is one of the largest private equity firms based in Asia.^[2][3]

RRJ Capital

Company type	Private
Industry	Private Equity
Founded	2011; 14 years ago (2011)
Headquarters	Singapore
Key people	Richard Ong Charles Ong
AUM	US$15 billion (2023)[1]
Website	www.rrjcap.com

Background

RRJ Capital, founded in March 2011 by Richard Ong who is currently chairman and CEO. Ong was previously Co-head of Asia investment banking at Goldman Sachs and co-founder of Hopu Investment Management. The name "RRJ" is named after his three children. His brother, Charles Ong joined RRJ Capital in 2012 and is currently co-CEO and co-chairman. Previously, Charles was the chief strategist of Singaporean sovereign wealth fund Temasek Holdings.^{[4][5][6][7][8]}

The firm mainly invests in companies based in China and South-East Asia. Its investment industries include healthcare, financial institutions, technology, and logistics.^{[4][5][6][7][8]}

In December 2023, it was reported that RRJ Capital would be aiming to raise $2 billion for its first private credit fund.^[9]

Funds

Fund[10]	Vintage Year	Committed Capital ($m)
RRJ Capital Master Fund I	2011	USD 2,300
RRJ Capital Master Fund II	2013	USD 3,600
RRJ Capital Real Estate Fund	2014	N/A
RRJ Capital Master Fund III	2015	USD 4,500
RRJ Capital Master Fund IV	2020	USD 235

Transactions

In 2013 and 2015, RRJ Capital invested in two Hong Kong-listed mainland real estate property stocks, Logan Property Holding and CIFI Holdings.^[8]

In 2014, RRJ Capital was the only non-Chinese direct investor in the acquisition of 30% of Chinese oil company, Sinopec.^[11]

In May 2014, RRJ Capital and Temasek Holdings invested $1.8 Billion in the NN Group before its initial public offering.^[12]

In November 2014, RRJ Capital and Temasek Holdings purchased $1 billion of convertible notes issued by Houston-based Cheniere Energy Inc.^[13]

In July 2018, RRJ Capita invested around $1.3 billion in companies owned by HNA Group.^[14] By then RRJ had a minority stake in insurance company FWD Group, which was reportedly laying the groundwork for an IPO in 2018.^[15]

In April 2019, RRJ Capital completed the acquisition of all outstanding shares in Gategroup from HNA Group. As a result, RRJ Capital became the sole shareholder and Temasek was invested in Gategroup through a mandatory exchangeable bond.^[16] In September 2019, Temasek converted the mandatory exchangeable bond to acquire 50% stake in Gategroup, making Temasek and RRJ co-shareholders.^[17]

In March 2021, RRJ Capital invested €450 million in Vodafone's Vantage Towers as part of its initial public offering.^[18]

See also

• Hopu Investment Management

References

1. "RRJ Capital". RRJ Capital official website.
2. Carew, Rick (1 October 2015). "RRJ Capital Raises $4.5 Billion in Largest Asian Private-Equity Firm Fundraising". Wall Street Journal. ISSN 0099-9660. Retrieved 17 March 2021.
3. "Lead Story: New administration piques RRJ Capital's interest in Malaysia". The Edge Markets. 22 April 2019.
4. Browne, Dinny McMahon And Andrew (20 February 2011). "Hopu's Ong Plans His Own Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 15 July 2023.
5. WSJ, Rick Carew. "RRJ Capital closes biggest private equity fundraising by an Asian firm". www.fnlondon.com. Retrieved 15 July 2023.
6. Flaherty, Saeed Azhar, Michael (2 September 2011). "Asia's dealmaking Ong brothers join forces again". Reuters. Retrieved 17 March 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
7. Hughes, Jennifer (8 January 2015). "RRJ Capital plans to raise record $4bn for new Asia fund". www.ft.com. Retrieved 15 July 2023.
8. "Can RRJ Capital repeat its Midas touch with Lai Sun Development?". South China Morning Post. 29 August 2017. Retrieved 17 March 2021.
9. "PE Firm RRJ Seeks to Raise $2 Billion for New Asia Private Credit Fund". Bloomberg.com. 5 December 2023. Retrieved 5 December 2023.
10. "RRJ Capital | Palico". www.palico.com. Retrieved 17 March 2021.
11. Kong, Alec Macfarlane at SuperReturn in Hong. "Richard Ong dismisses China fears". www.fnlondon.com. Retrieved 17 March 2021.
12. "RRJ, Temasek to Invest $1.8 Billion in ING Insurance Unit". Insurance Journal. 1 May 2014. Retrieved 17 March 2021.
13. Carew, Rick (11 November 2014). "RRJ Capital and Temasek Buy $1 Billion in Cheniere Energy Convertible Bonds". Wall Street Journal. ISSN 0099-9660. Retrieved 17 March 2021.
14. "Private equity firm RRJ takes stake in Avolon parent entity". independent. Retrieved 17 March 2021.
15. "Hong Kong Billionaire Richard Li Weighs Insurance IPO". Bloomberg.com. 26 June 2018. Retrieved 17 March 2021.
16. "HNA Group sells stake in gategroup in latest divestment". Breaking Travel News. Retrieved 17 March 2021.
17. "Temasek acquires 50% stake in airline catering firm gategroup". www.verdictfoodservice.com. 25 September 2019. Retrieved 17 March 2021.
18. "TOP NEWS: Vodafone's Vantage Towers prices IPO; EUR950 million backing". MorningstarUK. 9 March 2021. Retrieved 17 March 2021.

External links

• Official website