Press Release
Chilton Investment Company Plans Asian Expansion
CHILTON INVESTMENT COMPANY PLANS ASIAN EXPANSION
--Chilton’s Asian Equities Chief Kenneth Chiang
Will Head Up Newly-Opened Hong Kong Office--
--Beijing Office Planned; Expansion into Western Regions of China under Review--
New York, New York, November 19, 2007--Chilton Investment Company, a leading manager of hedge funds and managed accounts with more than $6.5 billion in assets, is planning to significantly expand its Asian presence over the next several years in order to provide greater research coverage of Asian companies as well as to offer additional Asian investment product offerings, it was announced today by Richard L. Chilton, Jr., Chairman and Chief Executive Officer.
As part of its strategy, Chilton said that Kenneth Chiang, a Managing Director and Head of the firm’s Asian Equities Group, will play a major role in leading the firm’s Asian expansion strategy and head up Chilton’s newly-opened office in Hong Kong.
Chilton said it also plans to open a Beijing office upon approval by the Chinese government and intends to explore, with the Chinese government, the opening an office in Western China -- a region with tremendous growth potential that the firm believes is currently underserved by investment specialists.
“Hong Kong will be the ‘hub’ for the firm’s Asian strategy,” Mr. Chilton said. “While we have been successful in our Asian strategy to date, we believe it is critical to establish a serious presence in the region to invest in what we believe are and will be the most promising opportunities.
“We are particularly excited by the potential of opening an office in Western China, where I have traveled extensively and have seen first hand many high quality companies that are operating with very little visibility in the investment community and with limited access to capital,” added Mr. Chilton.
Mr. Chiang joined Chilton in 2006. He has over 15 years of experience in global equities, most recently serving as a Portfolio Manager for Merrill Lynch Investment Managers. Since Mr. Chiang joined Chilton it has built its Asian exposure to about $350 million.
“On both a regional and country-by-country level, Asia is clearly benefiting from an unprecedented period of growth that we believe will continue for decades,” Mr. Chiang said. “Among the favorable macro-economic trends are the rise of a massive new consumer class, greater free-market orientation, improvements and transformations in technology, and limited resources in a time of seemingly unlimited demand. At the same time, we are seeing the emergence of a number of favorable business trends, such as intra-Asian trade and integration, evolving financing and ownership structures, and a M&A boom and industry consolidation.”
Chilton’s Hong Kong subsidiary opened in July 2007 to provide research to Chilton. The Asian strategies are currently staffed with four research professionals and an office manager.
About Chilton
Chilton Investment Company manages long/short equity and debt hedge funds and managed accounts with more than $6.5 billion in assets. Chilton is headquartered in Stamford, Connecticut with offices in New York, San Francisco, London and Hong Kong. The firm is registered with the securities authorities in the U.S., U.K. and Hong Kong. Chairman and Chief Executive Officer Richard L. Chilton, Jr. formed Chilton in 1992 to manage his US Diversified and Concentrated strategies. Since that time Chilton has added additional strategies in Asia, Global Natural Resources, Distressed Debt, Small Cap, Europe, New Era Global and a Multi-Strategy fund.
Contact:
Jeffrey Taufield/Michael Freitag
Kekst and Company
212-521-4800
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