| RRJ Capital | |
| Type: | Private |
| Industry: | Private Equity |
| Location: | Singapore |
| Key People: | Richard Ong Charles Ong |
| Aum: | US$15 billion (2023)[1] |
RRJ Capital is a private equity firm based in Singapore. It is one of the largest private equity firms based in Asia.[2] [3]
RRJ Capital, founded in March 2011 by Richard Ong who is currently chairman and CEO. Ong was previously Co-head of Asia investment banking at Goldman Sachs and co-founder of Hopu Investment Management. The name "RRJ" is named after his three children. His brother, Charles Ong joined RRJ Capital in 2012 and is currently co-CEO and co-chairman. Previously, Charles was the chief strategist of Singaporean sovereign wealth fund Temasek Holdings.[4] [5] [6] [7]
The firm mainly invests in companies based in China and South-East Asia. Its investment industries include healthcare, financial institutions, technology, and logistics.
In December 2023, it was reported that RRJ Capital would be aiming to raise $2 billion for its first private credit fund.[8]
| Fund[9] | Vintage Year | Committed Capital ($m) | |
|---|---|---|---|
| RRJ Capital Master Fund I | 2011 | USD 2,300 | |
| RRJ Capital Master Fund II | 2013 | USD 3,600 | |
| RRJ Capital Real Estate Fund | 2014 | N/A | |
| RRJ Capital Master Fund III | 2015 | USD 4,500 | |
| RRJ Capital Master Fund IV | 2020 | USD 235 |
In 2013 and 2015, RRJ Capital invested in two Hong Kong-listed mainland real estate property stocks, Logan Property Holding and CIFI Holdings.[10]
In 2014, RRJ Capital was the only non-Chinese direct investor in the acquisition of 30% of Chinese oil company, Sinopec.[11]
In May 2014, RRJ Capital and Temasek Holdings invested $1.8 Billion in the NN Group before its initial public offering.[12]
In November 2014, RRJ Capital and Temasek Holdings purchased $1 billion of convertible notes issued by Houston-based Cheniere Energy Inc.[13]
In July 2018, RRJ Capita invested around $1.3 billion in companies owned by HNA Group.[14] By then RRJ had a minority stake in insurance company FWD Group, which was reportedly laying the groundwork for an IPO in 2018.[15]
In April 2019, RRJ Capital completed the acquisition of all outstanding shares in Gategroup from HNA Group. As a result, RRJ Capital became the sole shareholder and Temasek was invested in Gategroup through a mandatory exchangeable bond.[16] In September 2019, Temasek converted the mandatory exchangeable bond to acquire 50% stake in Gategroup, making Temasek and RRJ co-shareholders.[17]
In March 2021, RRJ Capital invested €450 million in Vodafone's Vantage Towers as part of its initial public offering.[18]