Andrew advises on individual transactions, both fund raisings and mergers & acquisitions, in four different roles.
He can do so as a Financial Advisor to smaller clients when funds to be raised are less than, say, $50 million, Andrew can lead the process and bring on board other disciplines / resources as required sourced from his extensive network around the region.
He can also act as a Preliminary Financial Advisor (PFA) who works with client staff to prepare a deal ahead of the appointment of a bank as the Financial Advisor. The bank then need only confirm the likely terms and conditions of the financing before proceeding to financial close more quickly and with greater certainty. From the client’s perspective, this is more cost effective, more flexible and more discreet (in that the investment story does not leak out too early then go “stale”). Crucially, by working with a client’s staff, more of the learning benefits are retained in the company.
Banks and investors alike report that they often reject proposals because they are essentially incomplete. Andrew can work with the proponents to “polish” their proposals then return to the bank or investor and, one way or the otehr, secure a fully informed decision.
Andrew can also introduce investors to investment opportunities and vice versa.
In 2013 – 14, Andrew advised on the sale by a U.S. developer of a $30 million portfolio of run – of – river hydro schemes in Sri Lanka. He approached potential purchasers and prepared investment memoranda. The business was eventually sold to a third party.
In 2000, whilst at WestLB, Andrew was instrumental in the purchase of a significant stake in Singapore Aircraft Leasing Enterprise (“SALE”) (now Bank of China Aviation), then the only Asia – based aircraft lessor. This involved identification of target, price negotiation / justification and due diligence. Fellow shareholders were Singapore Airlines and the Singapore government’s investment vehicles, GIC and Temasek. Andrew sat on the board of SALE as an Alternate Director. This business duly delivered the synergies envisaged between it and the Andrew’s aircraft leasing team in Tokyo; it grew substantially both in scale and earnings; and justified the purchase decision. In 2006, the four shareholders sold the business to Bank of China at a considerable profit.
In any of these roles, Andrew is able – unusually – to bring all three perspectives critical to raising finance for infrastructure: debt, equity and (often overlooked but responsible for the most difficult issues) government.
