Asia
Canadian AI player raises $102m Series A for Asia push
China’s Tencent Holdings and Korea’s Hanwha Investment have backed a $102 million Asian expansion drive by Canadian artificial intelligence developer Element AI. It is said to be the largest Series A round ever raised by an AI company.
Campbell Lutyens adds former GIC executive to advisory board
Placement agent and secondary transaction advisor Campbell Lutyens has appointed Kok-Peng Teh, formerly head of the special investments division at GIC Private, to its advisory board.
Asia fundraising: Demand and supply
Capital is pouring into the asset class, globally and in Asia, to the benefit of brand-name buyout managers. Deploying a large fund in Asia means squeezing as much deal flow as possible out of each jurisdiction
L Catterton targets $1.25b for third Asia fund
L Catterton Asia – the regional arm of L Capital, which merged with US-based Catterton last year – is looking to raise $1.25 billion for its third fund.
Fund focus: Safe hands
With $9.3 billion in dry powder, KKR aims to capitalize on growing big-ticket opportunities in the region. The large and rapid fundraise is further evidence of the flight to quality among LPs
Asia Alternatives gets $100m from Minnesota SBI
Minnesota State Board of Investment (SBI) has committed to $100 million to Asia Alternatives’ fifth fund-of-funds, having recently increased its exposure to the region through vehicles managed by Warburg Pincus and KKR.
Korean culture plays: Sitting pretty?
Private equity is riding the 'Korean wave' by investing in cultural assets - from music to TV dramas to beauty products – that have international appeal. Success hinges on execution as much as macro trends
SoftBank achieves $93b first close on global tech fund
SoftBank Group Corp. has reached a first close of more than $93 billion on its global technology investment fund. A final close of $100 billion is expected within six months.
CPPIB's Asia PE portfolio grows 24% to reach $9.9b
Canada Pension Plan Investment Board (CPPIB) increased its exposure to Asian private equity by almost one quarter over the 12 months ended March 2017. The portfolio reached C$13.4 billion ($9.9 billion) as the pension plan made five direct investments...
Sigit Prasetya named head of CVC Asia, Roy Kuan to retire
Sigit Prasetya (pictured) has taken over as head of Asia at CVC Capital Partners as part of a broader restructuring of senior management that will see Roy Kuan, currently managing partner for the region, retire from the firm.
Highland closes Asia, US healthcare fund at $147m
Highland Capital Management has raised approximately $147 million for an Asia and North America-focused healthcare fund, having received an anchor LP commitment from South Korea’s National Pension Service (NPS).
New York State Common backs KKR's third Asian fund
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.
Baring Asia, CPPIB to privatize Nord Anglia in $4.3b deal
Baring Private Equity Asia has agreed a $4.3 billion privatization of Nord Anglia Education, a school operator it took private in the UK in 2008 and relisted in the US three years ago. Canada Pension Plan Investment Board (CPPIB) is also participating...
Adveq agrees sale to Schroders
Adveq, a global fund-of-funds that deploys $100-200 million every year in Asia, has agreed to an acquisition by UK-listed asset manager Schroders.
1Q analysis: Whale watching
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
Jafco invests $12m in Singapore adtech firm AdAsia
Jafco Asia has invested $12 million in a Series A funding round for Singapore-based advertising technology company AdAsia Holdings.
Pay rises level off in Asian private equity - survey
The increases in private equity compensation seen at all levels in recent years appear to be abating, with only about one third of industry professionals reporting a jump in base salary in 2016 over the previous year.
Asia fundraising: Retail channels
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 secures $5.8b first close on third Asian fund
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.
China’s first One Belt One Road project secures $1.4b facility
Pakistan’s Karot hydroelectric power project has secured a $1.4 billion facility from a group of Chinese investors and the International Finance Corporation (IFC). It is considered the first infrastructure deal under China’s One Belt One Road initiative.
LP interview: Adveq
Active in Asia for about two decades, fund-of-funds Adveq has a preference for China and India, and a relatively strong bias towards VC. Jun Qian, head of China investment, explains what he wants in a GP
Secondaries: A cautionary tale
Cracks have appeared in the secondary transactions through which Standard Chartered Private Equity had sought to secure its future, underlining the challenges for investors of bank-led deals
LPs going direct: In the shadows
While appetite for co-investment among LPs continues unabated, the notion of going solo on deals is more talked about than acted on in Asia. But shadow capital still poses a threat to managers
OCP Asia raises $200m direct lending fund
Hong Kong and Singapore-based hedge fund manager OCP Asia has raised a $200 million direct lending vehicle to make private equity-style credit investments in small and medium-sized enterprises (SME).