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JPMorgan Partners Asia Announces Close of US$1.575 billion Asian Buyout FundName Change to CCMP Capital Asia NEWS RELEASE Sept. 7, 2005 – JPMorgan Partners Asia ("JPMP Asia") announced today that it has raised US$1.575 billion, primarily from international institutional investors, for its Asia Opportunity Fund II, L.P. ("AOF II"). AOF II will fund acquisitions of controlling stakes in leveraged buyouts of medium to large sized market leading companies in the Asia Pacific region. This represents the first and final close of the Fund. The investment period for AOF II is set to begin in November 2005. JPMP Asia is a leading financial sponsor and has been a pioneer in the development of the Asian leveraged buyout market. JPMP Asia's initial US$1.1 billion fund, Asia Opportunity Fund, L.P. ("AOF I") was raised in 2000 and has made investments in 15 companies throughout the region. Acquisitions by AOF I include Mando Corporation and Haitai Confectionery in Korea, Metalform Asia and Yellow Pages Singapore in Singapore, Sanda Kan Industrial and ASAT Holdings in Hong Kong/China, Rhythm Corporation in Japan and Air International Thermal in Australia. AOF II will continue the successful investment approach of AOF I and target control-oriented acquisitions where JPMP Asia will be able to drive value through operational improvements. The key focus markets will be the larger markets of Australia, Greater China, Japan, Korea, and Singapore. JPMP Asia's team is comprised of 20 investment professionals based in five offices including Hong Kong, Melbourne, Seoul, Shanghai, and Tokyo. "The level of interest from existing and new institutional investors in AOF II has been very strong with demand exceeding US$2.5 billion. We made a conscious decision upfront to cap AOF II at around US$1.5 billion so that we could ensure that we could continue to execute disciplined and targeted deals that are consistent with our strategy," Andrew Liu, Managing Partner and CEO of JPMP Asia, said. In March 2005, JPMorgan Chase & Co ("JPMC") announced that the management of JPMP Asia's affiliate in New York, JPMorgan Partners LLC ("JPMP"), plans to spin-off from JPMorgan Chase & Co. to form an independent private equity firm. This spin-off will take effect when JPMP completes the investment of its current $6.5 billion Global Fund, which is expected to occur in late 2006. JPMP Asia will plan to spin-off together with JPMP at such time. In preparation for this spin-off, a new management company called CCMP Capital Asia will be formed in November of this year. Management and operations will remain unchanged. "We value tremendously the network and relationships that our affiliation with JPMP has brought to us in Asia. We look forward to growing and building on those relationships alongside JPMP as we invest our new fund," Liu said. Lazard acted as sole placement agent for AOF II. "JPMP Asia's second fund was heavily oversubscribed by a globally diverse group of high quality, long-term institutional investors. This successful fund-raising effort is a clear demonstration of the strong investor support for JPMP Asia's investment team, track record and strategy in the Asia-Pacific region," William Riddle, Managing Director of Lazard said. About JPMorgan Partners Asia JPMorgan Partners Asia ("JPMP Asia") is a leading private equity firm in the Asia Pacific region with about US$2.7 billion under management. Since its inception in 1999, JPMP Asia has invested in 15 companies in Asia, primarily in the industrial and consumer sectors, with transaction value exceeding US$3 billion. JPMP Asia has an integrated network of five offices in Asia in Hong Kong, Melbourne, Seoul, Shanghai and Tokyo with 20 investment professionals. JPMP Asia is affiliated with J.P. Morgan Partners LLC, a private equity affiliate of JPMorgan Chase & Co. About J.P. Morgan Partners LLC J. P. Morgan Partners LLC ("JPMP") is a leading private equity firm with over US$11 billion in capital under management as of June 30, 2005. Since its inception in 1984, JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare, hardware and software companies. With more than 80 investment professionals in five principal offices throughout the world, JPMP is an experienced investor in companies with worldwide operations. JPMP is a private equity affiliate of JPMorgan Chase & Co., one of the largest financial institutions in the United States, and is a registered investment advisor with the Securities and Exchange Commission. About Lazard Freres & Co Private Fund Advisory Group Lazard's Private Fund Advisory Group manages the raising of capital for private equity firms and enhances relationships with financial sponsors and institutional investors globally. The Group, which acts as advisor and placement agent for private equity funds, focuses on advice and execution for buyout, mezzanine, venture, distressed/turnaround, real estate and hedge funds. Lazard's Private Fund Advisory Group has established a position as a highly regarded and sought-after agent to the private equity fund manager community. Back to Press Releases |
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CCMP Capital Asia Ltd. was formed in October 2005. Previously, the firm's management team operated and managed J.P. Morgan Partners Asia, a private equity affiliate of JPMorgan Chase & Co. The historical information and biographies presented reflect the activities of CCMP Capital Asia professionals while managing J.P. Morgan Partners Asia. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2006 CCMP CAPITAL ASIA LTD. All rights reserved. |
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