Placement agent Monument Group opens in Hong Kong

Monument moved into the Hong Kong office last autumn and received its distribution license from the Securities and Futures Commission in January. Managing Director Robert Mast, who leads the firm's business activities in Asia, is now looking to make 3-4 local hires.

Monument will market global funds in Asia as well as pursue mandates from country and regional managers. Last year it worked on a private equity real estate fund raised by Greater China and Japan-focused Phoenix Property Investors.

"There is an increasing number of institutional investors here and increasing amount of investment capital that has an interest in the types of funds we raise around the world," Mast told AVCJ, adding that having an Asia presence has become a competitive requirement for global placement agents.

"Rightly or wrongly, a lot of US and European GPs feel that there is a huge well of money in Asia and they need to be able to access it."

Since its inception in 1994, Monument has helped raise 66 funds, 37 with repeat clients, totaling over $75 billion of equity against an aggregate target of $72 billion. These funds span buyouts, growth capital, distressed securities, mezzanine, venture capital, real estate, energy, special situations and payments for ecosystem services.

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• Topics
• Advisory
• Greater China
• North Asia
• Hong Kong (China)
• placement
• Japan
• professional services