New Silkroutes in joint venture to offer private equity funds in Asia Pacific

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.

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