UPDATE 1-Barcap poaches Morgan Stanley banker-sources

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* Key hire to win private equity mandates as competition rises in Asia

* Thomson Reuters data shows Asia PE investments surging 38 pct year to date

* Sponsor backed IPO exits at all-time high for Asia

By Stephen Aldred

HONG KONG, Sept 2 (Reuters) - Barclays Capital (Barcap) has poached Andrew Richards from Morgan Stanley in Europe to head the bank's private equity coverage in Asia Pacific, two sources told Reuters.

Richards, who will be a managing director at Barcap, is expected to fill a position that has been vacant since Takumi Tanaka, a former Lehman and Nomura banker, left the bank earlier this year.

Financial sponsor coverage bankers like Richards play a key role in winning mandates on private equity-backed investments, loans and IPO exits. Sponsor-backed exits have surged 77 percent this year in Asia to the highest level ever, recent Thomson Reuters data shows.

Thomson Reuters data also shows private equity investments rising 38 percent year to date to hit $17.2 billion in Asia.

Barclays and Morgan Stanley declined to comment.

Private equity investing in China and India in particular is accelerating, and PE funds are also expanding teams as they look to invest a wall of capital already accumulated in the region.

China is taking the lion's share of private equity investments. Global firms including Blackstone and TPG , as well as investment banks such as Morgan Stanley and Goldman Sachs , have all set up private equity operations in China, heating up competition for deals and the players who source them.

In India, private equity investing is accelerating, as rising borrowing costs and dormant public markets in Asia's third-largest economy push companies to cut deals with buyout firms in return for much-needed cash injections.

(Reporting by Stephen Aldred; Editing by Jonathan Hopfner)

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UPDATE 1-Barcap poaches Morgan Stanley banker-sources

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* Key hire to win private equity mandates as competition rises in Asia

* Thomson Reuters data shows Asia PE investments surging 38 pct year to date

* Sponsor backed IPO exits at all-time high for Asia

By Stephen Aldred

HONG KONG, Sept 2 (Reuters) - Barclays Capital (Barcap) has poached Andrew Richards from Morgan Stanley in Europe to head the bank's private equity coverage in Asia Pacific, two sources told Reuters.

Richards, who will be a managing director at Barcap, is expected to fill a position that has been vacant since Takumi Tanaka, a former Lehman and Nomura banker, left the bank earlier this year.

Financial sponsor coverage bankers like Richards play a key role in winning mandates on private equity-backed investments, loans and IPO exits. Sponsor-backed exits have surged 77 percent this year in Asia to the highest level ever, recent Thomson Reuters data shows.

Thomson Reuters data also shows private equity investments rising 38 percent year to date to hit $17.2 billion in Asia.

Barclays and Morgan Stanley declined to comment.

Private equity investing in China and India in particular is accelerating, and PE funds are also expanding teams as they look to invest a wall of capital already accumulated in the region.

China is taking the lion's share of private equity investments. Global firms including Blackstone and TPG , as well as investment banks such as Morgan Stanley and Goldman Sachs , have all set up private equity operations in China, heating up competition for deals and the players who source them.

In India, private equity investing is accelerating, as rising borrowing costs and dormant public markets in Asia's third-largest economy push companies to cut deals with buyout firms in return for much-needed cash injections.

(Reporting by Stephen Aldred; Editing by Jonathan Hopfner)

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RPT-Barclays Capital hires Richards from Morgan Stanley -sources

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(Repeats to new story number)

HONG KONG, Sept 2 (Reuters) - Barclays Capital (Barcap) has poached Andrew Richards from Morgan Stanley in Europe, to head the British investment bank's private equity coverage in Asia Pacific, two sources told Reuters.

Richards, who will be a managing director at Barcap, will fill a vacancy created by the departure of Takumi Tanaka, a former Lehman Brothers and Nomura Holdings banker, who left the bank earlier this year.

Barcap, the investment banking arm of British lender Barclays , and Morgan Stanley declined to comment. (Reporting by Stephen Aldred; Editing by Ken Wills)

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Morgan Stanley fund to invest $200 mln in India road JV with Spain co

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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