Overview

Our corporate private equity operation, established in 2005, is a business with several investment professionals and with offices in Singapore, Japan and China. We anticipate being an Asian leader in private equity investing, having managed general private equity funds as well as one specialized fund focusing on Hospitality Leisure and Management, Food & Beverage Establishments and Hospitality Lifestyle Supply Arena. From an operation focused in our early years on consummating leveraged buyout acquisitions of Asian Hospitality based companies, we have grown into a business pursuing transactions throughout Asia and executing not only typical leveraged buyout acquisitions of seasoned companies but also transactions involving growth-equity or start-up businesses in established industries, minority investments, corporate partnerships, distressed debt, structured securities and industry consolidations, in all cases in strictly friendly transactions. In total, our corporate private equity operation has raised approximately several million dollars in capital since 2005. As of February 28, 2019, our corporate private equity operation had US$29.44 million of total fee-earning assets under management.

From 2005 through February 28, 2019, our corporate private equity funds have invested in 13 companies in the Hospitality related industries and geographies in pursuit of their investment objectives. The total enterprise value of all transactions effected by our corporate private equity operations through February 28, 2019, was over US$32 million. As of February 28, 2019, our corporate private equity funds had 7 investments.