After riding on the casino construction boom in Macau, Hong Kong-based Rykadan Capital is transforming its capital-intensive business model as a redeveloper and builder into a private equity shop that focuses on property investments.
In doing so it joins several of Hong Kong's most renowned developers, including Li Ka-shing's Cheung Kong, New World Development, and Henderson Land, as each founded asset-management or direct-investment subsidiaries many years ago.
Sitting in the company’s harbourside office in Kwun Tong, William Chan, chairman and chief executive of Rykadan Capital, a small player in the local property market, discusses the...