Latest news with #EthanWang
Zawya
a day ago
- Business
- Zawya
China central bank pledges to adjust policy pace based on internal, external economic conditions
China's central bank said on Friday that it would adjust the pace and intensity of policy implementation based on internal and external economic and financial situations. The People's Bank of China, in a summary of a quarterly meeting held by its monetary policy committee, said that it would guide financial institutions to step up credit supply, and push for lowering of social financing costs. (Reporting by Yukun Zhang, Ethan Wang and Kevin Yao. Editing by Jane Merriman)
Yahoo
09-06-2025
- Business
- Yahoo
BharCap Partners Closes Oversubscribed Fund II at $652 Million
Fund II targets management buyouts of asset-light financial services businesses GREENWICH, Conn., June 09, 2025--(BUSINESS WIRE)--BharCap Partners, LLC ("BharCap"), a private equity firm focused on the financial services sector, today announced the final closing of its second fund, BharCap Partners Fund II, LP ("Fund II"). Fund II was oversubscribed with $652 million in equity capital commitments, 30% above its $500 million target. BharCap has raised over $1.1 billion of committed equity capital through Fund II and affiliated co-investment vehicles. BharCap is led by founding partners Bharath Srikrishnan, Ethan Wang, Jim Rutherfurd, Kevin Becker and Ryan Gean. Bharath Srikrishnan, Co-Founder and Managing Partner, said, "First and foremost, I would like to thank everyone who has supported us on this four-year journey. We created BharCap because we believe entrepreneurs in our sector would benefit from a new firm with a distinctive approach. We are highly entrepreneurial professionals who are sector specialists. We have unique operational and strategic capabilities. Our 'Entrepreneurs Backing Entrepreneurs' mantra resonates with management teams. We believe this fundraise demonstrates our differentiated value proposition, the quality and depth of our team and the attractiveness of our sector. With 27 professionals and operating advisors and substantial dry powder, we are well positioned to identify and support outstanding management teams." The fund's closing marks a pivotal moment as BharCap continues to source unique investment opportunities which leverage the firm's longstanding relationships with entrepreneurs. BharCap's Fund II targets management buyouts in asset-light middle-market financial services companies. Our focused sub-sectors include wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap focuses on companies with recurring revenue, strong profit margins and high free cash flow conversion that we can scale. We seek to invest alongside management teams to capitalize on powerful long-term growth trends, sub-consolidation opportunities in highly fragmented markets and the impact of technological advancement. Fund II and its LP co-investment vehicles typically invest $50 to $300 million in North American companies with EBITDA of $10 to $50 million. Ethan Wang, Co-Founder and Partner, said, "With our entrepreneur-centric approach and deep sector expertise, we provide the tools that financial services companies need to succeed. We have a robust pipeline of proprietary investment opportunities sourced by our proactive, outbound calling effort. We are excited to originate new investment opportunities, drive continued success for our portfolio companies and create significant value for our limited partners and management teams." Fund II's investors are a diverse group of limited partners from North America, Europe and Asia, including insurance companies, asset managers, public pension plans, institutional consultants, endowments and foundations, high-net-worth individuals and family offices. Jim Rutherfurd, Co-Founder, Partner and Head of Investor Relations, said, "We are grateful for and honored by the support from our limited partners, particularly considering the impact of economic and geopolitical uncertainty on the fundraising environment. Our LP base includes some of the most prominent and well-regarded fund investors. Fund II has significant embedded value, and we are highly focused on extending our track record of outstanding asset light financial services investments." Fund II has invested approximately 30% of the Fund in four portfolio companies in the insurance brokerage, insurance services, payment processing and wealth management sectors. For further inquiries or partnership opportunities, please contact Jim Rutherfurd at jim@ Rede Partners served as placement agent and Kirkland & Ellis served as fund formation legal counsel to BharCap Fund II. About BharCap Partners:BharCap Partners, LLC invests in businesses across the financial services industry including wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap manages over $2 billion of capital. For more information, please visit View source version on Contacts Media Contacts:Delia Cannan / Pamela GreeneReevemark212-433-4600BharCapPartnersTeam@ Sign in to access your portfolio
Business Wire
09-06-2025
- Business
- Business Wire
BharCap Partners Closes Oversubscribed Fund II at $652 Million
GREENWICH, Conn.--(BUSINESS WIRE)-- BharCap Partners, LLC ("BharCap"), a private equity firm focused on the financial services sector, today announced the final closing of its second fund, BharCap Partners Fund II, LP ('Fund II'). Fund II was oversubscribed with $652 million in equity capital commitments, 30% above its $500 million target. BharCap has raised over $1.1 billion of committed equity capital through Fund II and affiliated co-investment vehicles. 'We believe this fundraise demonstrates our differentiated value proposition, the quality and depth of our team and the attractiveness of our sector.' BharCap is led by founding partners Bharath Srikrishnan, Ethan Wang, Jim Rutherfurd, Kevin Becker and Ryan Gean. Bharath Srikrishnan, Co-Founder and Managing Partner, said, 'First and foremost, I would like to thank everyone who has supported us on this four-year journey. We created BharCap because we believe entrepreneurs in our sector would benefit from a new firm with a distinctive approach. We are highly entrepreneurial professionals who are sector specialists. We have unique operational and strategic capabilities. Our 'Entrepreneurs Backing Entrepreneurs' mantra resonates with management teams. We believe this fundraise demonstrates our differentiated value proposition, the quality and depth of our team and the attractiveness of our sector. With 27 professionals and operating advisors and substantial dry powder, we are well positioned to identify and support outstanding management teams.' The fund's closing marks a pivotal moment as BharCap continues to source unique investment opportunities which leverage the firm's longstanding relationships with entrepreneurs. BharCap's Fund II targets management buyouts in asset-light middle-market financial services companies. Our focused sub-sectors include wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap focuses on companies with recurring revenue, strong profit margins and high free cash flow conversion that we can scale. We seek to invest alongside management teams to capitalize on powerful long-term growth trends, sub-consolidation opportunities in highly fragmented markets and the impact of technological advancement. Fund II and its LP co-investment vehicles typically invest $50 to $300 million in North American companies with EBITDA of $10 to $50 million. Ethan Wang, Co-Founder and Partner, said, 'With our entrepreneur-centric approach and deep sector expertise, we provide the tools that financial services companies need to succeed. We have a robust pipeline of proprietary investment opportunities sourced by our proactive, outbound calling effort. We are excited to originate new investment opportunities, drive continued success for our portfolio companies and create significant value for our limited partners and management teams.' Fund II's investors are a diverse group of limited partners from North America, Europe and Asia, including insurance companies, asset managers, public pension plans, institutional consultants, endowments and foundations, high-net-worth individuals and family offices. Jim Rutherfurd, Co-Founder, Partner and Head of Investor Relations, said, 'We are grateful for and honored by the support from our limited partners, particularly considering the impact of economic and geopolitical uncertainty on the fundraising environment. Our LP base includes some of the most prominent and well-regarded fund investors. Fund II has significant embedded value, and we are highly focused on extending our track record of outstanding asset light financial services investments.' Fund II has invested approximately 30% of the Fund in four portfolio companies in the insurance brokerage, insurance services, payment processing and wealth management sectors. For further inquiries or partnership opportunities, please contact Jim Rutherfurd at jim@ Rede Partners served as placement agent and Kirkland & Ellis served as fund formation legal counsel to BharCap Fund II. About BharCap Partners: BharCap Partners, LLC invests in businesses across the financial services industry including wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap manages over $2 billion of capital. For more information, please visit
The Star
27-05-2025
- The Star
At least five dead and another six missing after chemical plant blast in China's Shandong
There were no immediate details of casualties. - PHOTO: SCREENGRAB FROM WEIBO via The Straits Times/Asia News Network BEIJING (Reuters): An explosion at a chemical plant in the eastern Chinese province of Shandong killed at least five people, with 19 injured and six missing, the state-run Xinhua agency said late on Tuesday. The blast occurred a few minutes before noon on Tuesday, shaking part of a chemical plant operated by Shandong Youdao Chemical in the city of Weifang. Videos circulating on Chinese social media and verified by Reuters showed plumes of orange and black smoke billowing into the sky. Windows of nearby buildings were ripped from their hinges by the explosion, one of the videos showed. More than 200 emergency workers responded to the blast, according to a statement issued by China's emergency response authority on Tuesday afternoon. Drone video posted by The Beijing News, a government-run publication, showed smoke emerging from the chemical plant and from a second, unidentified facility nearby. Baidu Maps, a navigation app, shows other manufacturing companies next to Youdao's plant, including a textile company, a machinery company and a firm that makes industrial coating materials. The Weifang Ecological Environment Bureau dispatched staff to test the site of the blast but said there were no results yet available. The bureau advised nearby residents to wear face masks in the meantime, Beijing News reported. Shandong Youdao Chemical is owned by Himile Group, which also owns listed Himile Mechanical, shares of which closed down nearly 3.6% on Tuesday. Youdao was established in August 2019 in the Gaomi Renhe chemical park in Weifang, according to the company's website. The plant covers more than 47 hectares (116 acres) and has more than 300 employees. The company develops, produces and sells chemical components for use in pesticides and pharmaceuticals. Blasts at chemical plants in China in recent years have included one in the northwest region of Ningxia in 2024 and another in the southeastern province of Jiangxi in 2023. Two massive explosions at warehouses containing hazardous and flammable chemicals in the port city of Tianjin in 2015 killed over 170 people and injured 700. That incident prompted the government to tighten laws covering chemical storage. An explosion in 2015 at another chemical plant in Shandong killed 13 people. (Reporting by Joe Cash, Ethan Wang, Yukun Zhang, Xiuhao Chen and Shi Bu in Beijing and Farah Master in Hong Kong; editing by Clarence Fernandez, Christian Schmollinger, Alison Williams and Mark Heinrich) - Reuters
Yahoo
13-04-2025
- Business
- Yahoo
China's March bank loans seen rebounding as trade tensions escalate
By Ethan Wang and Kevin Yao BEIJING (Reuters) - China's new yuan loans likely rebounded in March after a sharp fall in February, a Reuters poll showed on Wednesday, as policymakers pledged fresh stimulus to counter mounting economic headwinds amid a worsening global trade war. Banks are estimated to have issued 3 trillion yuan ($408.19 billion) in net new yuan loans last month, up from 1.01 trillion yuan in February, according to the median estimates of 11 economists. The new lending forecast would be lower than the 3.09 trillion yuan issued in new loans in March 2024. "Overall credit demand may have stayed soft as the bills discount rate stayed subdued throughout the month," Citi analysts said in a note. "Meanwhile, household borrowing may have stayed low despite the easing of quota of consumer loans." New bank lending in China plunged more than expected in February after hitting a record high in January. Total lending would reach 9.14 trillion yuan in the first quarter if the March reading matches forecasts, compared with 9.46 trillion yuan in the same period last year. China has set an ambitious 2025 growth target of "around 5%", though analysts believe it may be increasingly difficult to achieve amid escalating U.S.-China trade tensions. President Donald Trump has hiked tariffs on Chinese goods this year to 104%, after China retaliated by matching his "reciprocal" duties. Citi this week downgraded its China GDP forecast to 4.2% from 4.7% for 2025, warning that higher U.S. tariffs could drag China's growth by at least 1.5 percentage points on an annualised basis. In a sign authorities may step up stimulus to shield the economy from external shocks, the state-run People's Daily said in a commentary last Sunday that China has "ample room" for monetary easing, including reserve requirement ratio cuts and interest rate reductions. The paper also flagged the potential for further expansion of fiscal deficits, special bonds and special treasury bonds. Separately, four of China's largest state-owned banks last week unveiled around $72 billion in recapitalisation plans, following through Beijing's pledge to help the lenders increase capital buffers and manage asset quality strains. Outstanding yuan loans were expected to rise 7.3% in March from a year earlier, the poll showed, unchanged from the pace in February. Broad M2 money supply growth last month was seen at 7.1%, quickening from 7.0% in February. Total social financing (TSF), a broad measure of credit and liquidity in the economy, likely grew to 4.8 trillion yuan in March from 2.23 trillion yuan in the previous month. Outstanding TSF rose 8.2% in February, up from 8.0% in January and December. ($1 = 7.3495 Chinese yuan) Sign in to access your portfolio
