Allco sustains SE Asian foothold with Malaysian JV
Allco Finance has moved to lift its profile in South East Asia via a joint venture agreement with Malaysian interests, which will see it investing in the mezzanine/junior tranches of Malaysian structured asset finance transactions.
The executive chairman of Allco Asia, David Turnbull, said the joint venture had been struck with Malaysia’s second largest financial services provider, CIMB Group, and would operate via the CIMB Allco Structured Finance Fund.
The joint venture follows Allco’s establishment of an office in Kuala Lumpur, and further joint venture arrangements between the parties were flagged, including structured asset finance originations, funds management arrangements and a structured asset finance investment advisory business.
Turnbull said the joint venture agreement with CIMB Group furthered Allco’s business model, which was to apply origination and structuring skills to particular assets, arrange finance and then manage the assets through their lifecycle.
AUTHOR
Mike Taylor
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
