RRJ Capital (RRJ) is a

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

firm based in

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

. It is one of the largest private equity firms based in

Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...

Background

RRJ was founded in March 2011 by Richard Ong who is currently chairman and CEO. Ong was previously Co-head of Asia

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

and co-founder of Hopu Investment Management. The name "RRJ" is named after his three children. His brother, Charles Ong joined RRJ in 2012 and is currently co-CEO and co-chairman. Previously, Charles was the chief strategist of Singaporean sovereign wealth fund

Temasek Holdings Temasek Holdings (Private) Limited ( ) is a Singaporean State ownership, state-owned multinational investment firm. Incorporated on 25 June 1974, Temasek has a net portfolio of US$288 billion (S$389 billion) as of 2024. Headquartered at Orchard ...

. From 2019, RRJ halted investing in China due to the

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

which led to lockdowns in the country that disrupted the economy. It moved its focus to Southeast Asia, the US and India. RRJ resumed investing in China in OCtober 2024 when it bought $150 Million worth of Luye Pharma Group bonds. In December 2023, it was reported that RRJ would be aiming to raise $2 billion for its first

private credit Private credit is an asset defined by non-bank lending where the debt is not issued or traded on the public markets. "Private credit" can also be referred to as " direct lending" or " private lending". It is a subset of "alternative credit". E ...

fund.

Transactions

In 2014, RRJ was the only non-Chinese direct investor in the acquisition of 30% of Chinese oil company,

Sinopec China Petroleum and Chemical Corporation, or Sinopec Group, is a Chinese oil and gas enterprise based in Chaoyang District, Beijing. The SASAC administers China Petroleum and Chemical Corporation for the benefit of State Council of the ...

. In May 2014, RRJ and

invested $1.8 Billion in the NN Group before its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. In November 2014, RRJ and Temasek Holdings purchased $1 billion of convertible notes issued by Houston-based

Cheniere Energy Cheniere Energy, Inc. is an American liquefied natural gas (LNG) company headquartered in Houston, Texas. In February 2016 it became the first American company to export liquefied natural gas. Cheniere Energy is the largest exporter of LNG in t ...

Inc. In July 2018, RRJ Capita invested around $1.3 billion in companies owned by

HNA Group HNA Group Co., Ltd., was a Chinese conglomerate (company), conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and ...

. By then RRJ had a minority stake in insurance company FWD Group, which was reportedly laying the groundwork for an IPO in 2018. In April 2019, RRJ completed the acquisition of all outstanding shares in Gategroup from HNA Group. As a result, RRJ became the sole shareholder and Temasek was invested in Gategroup through a mandatory exchangeable bond. In September 2019, Temasek converted the mandatory exchangeable bond to acquire 50% stake in Gategroup, making Temasek and RRJ co-shareholders. In March 2021, RRJ invested €450 million in

Vodafone Vodafone Group Public Limited Company () is a British Multinational company, multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates Service (economic ...

's Vantage Towers as part of its initial public offering. In March 2025, RRJ led a consortium to invest $600 million in VistaJet.

References

External links

* {{authority control Financial services companies established in 2011 Private equity firms of Asia-Pacific Companies of Singapore

Background

Transactions

See also

References

External links