SINGAPORE (Oct 7): New Silkroutes Group (NSG) on Friday, announced it has formed a joint venture with three parties to develop private equity funds that will focus on healthcare and infrastructure in the Asia Pacific region, including Japan and Australia. The new Singapore-incorporated entity, New Silkroutes Asset Management, will be 30% owned by NSG’s subsidiary New Silkroutes Capital, 30% by Nanshan Group Singapore, 30% by former United Overseas Bank executive Terence Ong Sea Eng, and 10% by Fuji Capital. Ong will head New Silkroutes Asset Management, which is applying for the Capital Markets Services licence from the Monetary Authority of Singapore. “The stakeholders in this joint venture have deep expertise in their respective fields. “Healthcare will be another engine of growth for NSG as we believe this is an area with huge potential in Asia Pacific,” he adds.

Source: The Edge Markets October 07, 2016 00:33 UTC