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Private equity fund buys index maker Alerian as ZZ Capital deal stalls

Wed 23rd May, 2018 12:09pm
By Kane Wu
    HONG KONG, May 23 (Reuters) - Aretex Capital Partners, a
private equity fund that was launched just this year, has agreed
to buy Alerian, the developer of the energy benchmark Alerian
MLP Index  .AMZ , Aretex said in a statement late on Tuesday. 
    Aretex was founded by two employees of ZZ Capital
International Ltd  8295.HK , whose current deal to purchase
Alerian has stalled since last July. 
    Alerian's MLP Index tracks energy companies who have
structured themselves as master limited partnerships, publicly
traded partnerships whose profits are taxed only when investors
receive their distribution.
    The deal would be the first investment done by Aretex, an
investment fund founded by Sergio D’Angelo and Andrew Feller.
D'Angelo is currently the head of Europe for ZZ Capital
International while Feller is the head of North America,
according to their LinkedIn profiles. 
    Hong Kong-based ZZ Capital International Ltd agreed last
July to buy Alerian, a Dallas-based financial index and data
provider, for $582 million in cash and up to $230 million in
additional payments if it hit revenue targets from 2018 to 2021.
    The firm had been attempting to restructure the deal after
missing two deadlines to close the transaction.  urn:newsml:reuters.com:*:nL1N1R90O6
    China's clampdown last year on bank lending for overseas
investments has required ZZ Capital to seek offshore funding for
its existing deal pipeline and to slow new mergers and
acquisition proposals, it said in a regulatory filing in
    A U.S.-based spokesman for Aretex could not be reached
outside work hours. ZZ Capital's shares were suspended before
trading began on Wednesday, pending an announcement.

 (Reporting by Kane Wu; Editing by Christian Schmollinger)
 ((kane.wu@thomsonreuters.com; +85228436590; Reuters Messaging:
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