J-Star has closed its third Japan-focused buyout fund at the hard cap of JPY32.5 billion ($291 million), having launched the vehicle last summer with a target of JPY30 billion.
New York State Common Retirement Fund (NYSCRF), the third-largest pension fund in the US, has committed $275 million to KKR’s third Asian fund, which has an institutional hard cap of $8.5 billion.
Institutional investors are keen to increase their exposure to Indonesia but the relative immaturity of the local market continues to be a deterrent, LPs told the AVCJ Indonesia Forum.
The Singapore government and domestic GP Makara Capital have launched a S$1 billion ($716 million) private equity fund that will focus on intellectual property (IP)-driven companies.
SeedPlus Singapore, a Southeast Asia-focused seed fund run by Jungle Ventures, has closed its debut fund at S$25 million ($18 million).
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), a former partner at Sequoia Capital, has closed its third US dollar-denominated technology fund at $260 million.
Neuberger Berman has established an onshore investment management business in China that is expected to enable the firm to distribute private fund products to local clients.
ClearVue Partners has closed its second China consumer-focused fund at $362 million, having received commitments from institutional LPs including several global fast-moving consumer goods companies.
Integral Group has closed its third Japan mid-market buyout fund at the hard cap of JPY73 billion ($670 million), with domestic LPs accounting for approximately three quarters of the corpus.
China's Haiyin Capital and the US-based National Council of Entrepreneurial Tech Transfer (NCET2) have jointly launched a VC fund to provide capital to start-ups formed at American universities.
Wei Zhou (pictured), formerly a managing partner at KPCB China, has launched a new VC firm – China Creation Ventures – and closed his debut renminbi-denominated fund at RMB1.5 billion ($220 million).
South Korea has announced plans for a KRW8 trillion ($7 billion) fund – of which half will come from private sector feeder vehicles – as part of government efforts to initiate a more market-based approach to corporate restructuring.
While the number of GPs active in Indonesian venture capital has mushroomed in recent years, there has been no change on the private equity side. The market suffers from talent and perception issues
KKR’s first close dominates fundraising activity, but mid-market showing still impresses; Japan leads the way as Asia exits remain reasonably strong; investment slows, if China state-backed deals are ignored
The Tianjin government is looking to raise RMB100 billion ($14.5 billion) for a renminbi-denominated fund intended to stimulate private investment in pillar industries such as high-end manufacturing, information technology and aerospace.
Japan’s Government Pension Investment Fund (GPIF) has made its first call for applications from alternatives managers, with a view to backing fund-of-funds across private equity, infrastructure and real estate.
The governments of India and the UK have launched a private equity fund with a target of GBP500 million ($620 million) to invest in sustainable infrastructure projects in India.
The International Finance Corporation (IFC), the investment arm of the World Bank, has proposed an investment of up to $25 million in LeapFrog Investments’ emerging markets-focused third fund, which is targeting as much as $800 million.
Vietnam-based private equity firm Dragon Capital has made its first investment in Myanmar, teaming up with a local strategic partner to seed a Yangon-based microfinance services business.
Banyan Capital has raised more than RMB5 billion ($725) million across two China-focused venture capital funds – one US dollar-denominated and the other in renminbi.
Tokio Marine Capital has reached a final close of JPY51.7 billion ($466 million) on its fifth Japan mid-market fund on the back of strong support from domestic LPs, notably regional banks.
Private equity firms keen to diversify their LP bases are looking to establish relations with Asia’s high net worth segment, and the private banks and wealth managers who facilitate access to this community
KKR has reached a first close of just under $5.8 billion on its third pan-Asian fund. The vehicle has an institutional hard cap of $8.5 billion, with a further $700 million in commitments from the firm’s balance sheet and management team.