Macquarie Group and State Bank of India (SBI) are targeting $1-1.5 billion for their second India-focused infrastructure fund. Plans for the new vehicle come as the first fund, SBI Macquarie Infrastructure Trust, which closed in March at $1.2 billion, has only $500 million left in dry powder and more deals in the pipeline.
Macquarie and SBI want to be ready for launch in the next two months, but the deteriorating global economic environment may force a postponement until the first quarter of 2012, Reuters reported, citing...
Chinese internet giant Alibaba Group has acquired a 4% stake in S.M. Entertainment, a South Korean music agency, for KRW35.5 billion ($29.8 million).
Oyo Rooms, an India-based budget hotel booking app backed by SoftBank Corp. and other VCs, has acquired industry rival Zo Rooms, which counts Tiger Global Management as an investor.
Chinese online hotel booking site eLong has agreed to buyout led by a consortium of existing shareholders, including Tencent Holdings and Ctrip. The deal values the company at approximately $647 million.
Singapore-based IMJ Investment Partners has raised JPY2 billion ($17.7 million) for a venture capital fund that will back start-ups in Japan. The full target is JPY6 billion.