London Asia rides with the Mongols

In its quest for its own golden horde, London Asia, the AIM-listed China private equity and asset management specialist, has announced a Mongolian tie-up. This complements its eight-strong network of branches in the mainland China and offices in Hong Kong and Singapore.

The firm has formed London Asia Capital Mongolia, in a 60/40 joint venture with Capitron Bank of Mongolia, a small local commercial bank. The joint venture plans to offer advice to Mongolian companies on cross-border M&A and international capital raising. It will also be dispensing advice to Capitron Bank concerning restructuring and capitalization.

The Lord Mayor of London himself signed the joint venture deal with Capitron. David Brewer, who is also a non-executive director of London Asia, was on a Mayoral tour drumming up business for the City of London in Mongolia.

London Asia was also given the advisory mandate by Northeast Asia Resources, a junior Mongolian mining company fossicking on the steppe, which would like to raise capital on the London exchange.

Simon Littlewood, London AsiaÆs CEO, together with Victor Ng, originally founded London Asia in 2000. They also announced recently that John Manser, former chairman of Robert Fleming Holdings, has been appointed as chairman of the London AsiaÆs Chinese Private Equity Fund.

London Asia has invested in more than 20 companies, including floatations of Betex Group, China Eastsea Business Software, China Education Group, Peach Blossom Media, Sunpower Group and Snowcity.