Saban Capital opens in Hong Kong
Saban Capital Group (Asia), a regional unit of the Los Angeles-based private equity firm controlled by billionaire Haim Saban, has opened a new office in Hong Kong.
Director Sumeet Jaisinghani, who joined Saban 2008, has relocated from Los Angeles to head up the office, which aims to extend the firm's sphere of influence in Asia. His team will focus on deal sourcing and execution.
Saban first invested in the region in 2010, with its acquisition of a stake in Taomee, China's largest children's online entertainment company. In October 2011, it went on to acquire a 5% stake in Indonesia's PT Media Nusantara Citra from PT Global Mediacom for INR692 billion ($78.2 million). Most recently, in December, its portfolio company Tiger Gate partnered with Celestial Pictures to establish media company Celestial Tiger Entertainment.
Haim Saban, chairman and CEO, said: "Asia is home to some of the world's most innovative and creative entrepreneurs in media and communications. We are excited about expanding our investment franchise into Asia and the opening of Saban Capital Group (Asia)'s office in Hong Kong is a strong sign of our commitment to the region."
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