The UK government is on course to recoup more than $100 million by exiting its stake in Actis. The private equity firm’s management will buy the government’s 40% holding for GBP8 million ($13 million) in cash and also hand over a portion of the carried interest from three funds. It is estimated this could generate at least $100 million over several years.
Andrew Mitchell, the international development secretary, said the agreement represented a much better deal for British taxpayers. "While Actis has generated significant profits, the previous shareholding...
China Everbright and its portfolio company Focus Media, a Chinese outdoor advertising business, have launched a RMB5 billion ($750 million) investment fund that will invest in the technology, media and telecom (TMT) sector.
The Carlyle Group has fully exited its remaining stake in Australian ports operator Qube Logistics for a reported A$350 million ($263 million).
Institutional investors expect private equity funds to deliver outsize returns, regardless of the lower growth environment in Asia, which means GPs must focus more on making a difference to portfolio companies at the micro level.
UOB Venture Management (UOBVM), a subsidiary of Singapore’s United Overseas Bank, has led a RMB200 million ($30 million) Series C round for HunterOn, a Chinese online recruitment services provider.