The latest in funds and investment news from across the world.

Apex Group, BITE Investments
Fintech services firm Apex Group and BITE Investments, a technology firm helping high net worth clients tap into alternative investments, have launched a partnership focused on Asia.

BITE provides HNW investors access to alternative asset funds and their underlying, direct co-investment opportunities, in smaller more manageable sized amounts and has recently closed a pre-Series A funding round backed by Apex, the organisations said in a statement. 

A number of businesses such as BITE have developed in recent years to give HNW clients easier access to areas such as private equity, infrastructure, real estate and private credit than they had in the past. iCapital and Mercury Capital Advisors are two such examples. 

Chinese and Asian investors globally, and those across Asia-Pacific, can use BITE to construct an alternatives portfolio, denominated in US dollars.

Apex Group was established in Bermuda in 2003 and has 45 offices worldwide and 3,500 employees. BITE is majority owned by VCP Advisors, regulated in a variety of jurisdictions, such as the US, UK, Hong Kong and the Cayman Islands.

AMP Capital
Australia-based investments house AMP Capital has completed a A$145 million investment into a Taiwanese offshore wind farm developer. The deal, structured as a mezzanine debt package, was conducted alongside Stonepeak Infrastructure Partners.

The windfarm developer is called Swancor Renewable Energy Co. The investment, which marks AMP Capital’s first in Taiwan, will support the construction of a new 376-megawatt offshore wind farm called Formosa II.

(Mezzanine debt has embedded equity instruments attached, often known as warrants, which increase the value of the subordinated debt and allow greater flexibility when dealing with bondholders. Mezzanine debt is frequently associated with acquisitions and buyouts.)

AMP said that Formosa II “is considered a priority project for the region and will be one of Taiwan’s largest offshore wind farms when construction is completed, which is currently expected to be in 2021”.