EmergeVest, a Hong Kong-based boutique PE firm established by two former executives from HSBC’s Asia principal investments division, has secured its first exit with the sale of apparel supplier JD United Manufacturing (JDU) to Taiwan-listed Roo Hsing.
The investment has generated a more than 2x multiple and an IRR in excess of 25%. EmergeVest committed $20 million to JDU in May 2014 with a view to helping the company go public. Part of the proceeds...
Team turnover remains a key concern for LPs making commitments to Chinese private equity firms, but even the most stable of GPs must demonstrate an ability to evolve in response to a fast-changing environment, investors caution.
Redpoint China Ventures has closed its debut renminbi-denominated VC fund at RMB700 million ($110 million).
India’s National Investment & Infrastructure Fund has acquired a controlling stake in PE-backed logistics player Continental Warehousing Corporation (CWCNSL) in a joint deal with Dubai-based port operator DP World.
HarbourVest Partners has closed its latest fund-of-funds targeting European and Asian markets with $1.7 billion in commitments.