China Private Equity restructures Australia securities platform investment

CPE has agreed to sell its 24% stake in Enfinium to AIP Global, a Hong Kong-based investment holding company that focuses on the financial sector. It acquired a majority interest in Enfinium seven months ago. In return, CPE will receive 127,000 shares in AIP, which equates to a 2.45% holding.

As of June 2012, CPE's investment in Enfinium was worth $4.34 million. The CPE board has decided to take a further $3.34 million write-down on the latest carrying value of the Enfinium investment.

"This deal exchanges our holding in a subsidiary company for a direct stake in the parent group, exposing CPE to the wider growth opportunities of the global AIP businesses, even though it has at this stage resulted in a write down of our original investment," John Croft, CEO of CPE, said in a statement. "We have taken the view that over the longer term we have positioned ourselves more advantageously."

AIP Global was set up by Alternative Investment Partners, a global investment banking and securities firm headquartered in Tokyo. In addition to Enfinium, it holds a controlling interest in GO Markets, an Australian financial services business that specializes in online foreign exchange trading for retail investors.

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• Topics
• Restructuring
• Financials
• Greater China
• Australasia
• Financial Services
• China
• Australia
• Japan