Real estate
Investors flock to CRC’s debut RMB fund
Renminbi fundraising weakened considerably over the course of 2012. Preliminary AVCJ figures showing that barely 20 vehicles attracted a total of $4.2 billion in the second half of the year, less than one third the amount raised in the previous six months.
Four in five Asian investors plan real estate fund commitments - survey
Four in five Asian-based investors are expected to invest in private real estate funds in 2013 compared to around 48% and 39% of investors based in North America and Europe respectively, according to new report.
Blackstone invests in India business park – report
The Blackstone Group has reportedly joined two other companies in purchasing a business park in South India for INR19.6 billion ($367 million).
China Resources Capital raises $153m for debut RMB fund
China Resources Capital (CRC) has raised RMB956 million ($153 million) for its debut local currency fund. The vehicle has also announced its first deal – a co-investment with mainland property developer China Vanke in a Shanghai residential project.
Vietnam’s VinaCapital appoints new real estate head
VinaCapital has appointed David Blackhall as managing director with responsibility for the Vietnam-focused GP’s real estate portfolio. He takes over from David Henry, who is leaving the company to pursue opportunities in Australia.
MGPA pays $111m for Perth office building
Four months since reaching a first close of EUR85 million ($111 million), MGPA Asien Spezialfonds - an Asia-focused real estate fund structured to target German investors - has committed close to exactly that amount for its maiden investment in Australia.
IL&FS Private Equity invests $33m in real estate in third quarter
IL&FS Investment Managers (IIML), the India's largest private equity firm by assets under management, invested INR1.8 billion ($33 million) in real estate during the quarter ended December 2012. It also recorded exits worth INR2.45 billion across private...
Blackstone buys China land parcel for $482m - report
The Blackstone Group has reportedly invested more than RMB3 billion ($482 million) for 600,000 square meters of land in China's Jiangsu province. The deal was finalized in October and has received approval from the Ministry of Commerce.
Bain-backed Sunac drops on share-sale plan
Sunac China Holdings, a Hong Kong-listed Chinese property developer backed by Bain Capital, suffered from the biggest drop since March after announcing plans to sell HK$2 billion ($248 million) worth of shares.
MGPA in $111m Australia office building deal
MGPA, a private equity real estate investment firm, has paid A$105.67 million ($111 million) for a Grade A office building located at Perth. This is the first investment made from MGPA’s EUR500 million ($639 million) Asia property fund, a vehicle structured...
India Infoline invests in real estate project
India Infoline (IIFL) has invested INR750 million ($13.9 million) in a real-estate development project in the state of Haryana through its IIFL Domestic Series 1 Fund.
Century Bridge hires ex-PwC assurance executive
Century Bridge Capital has appointed Michael Yan as a director, tasked with providing strategic guidance on asset management and growth strategies. He was previously a senior manager in PricewaterhouseCoopers’ (PwC) assurance division.
India’s Essel Group to launch private equity fund
Essel Group, the Indian conglomerate headed by media mogul Subhash Chandra, has set up a new investment arm - Essel Financial Services - that will target private equity, infrastructure, real estate and financial services.
Blackstone appoints new senior managing director for India real estate
The Blackstone Group has promoted India-based Tuhin Parikh to senior managing director in its real estate division. He was previously a managing director.
Fortress closes second Japan distress fund at $1.6b
Fortress Investment Group has closed its second distress fund, Fortress Japan Opportunity Fund II, at its hard cap of JPY130 billion ($1.65 billion). It is the successor fund to Fortress Japan Opportunity Domestic Fund (FJOF) which closed in June 2010...
Carlyle plans partial exit from Kaisa – report
The Carlyle Group is reportedly selling part of its holding in Hong Kong-listed Chinese real estate developer Kaisa Group for up to $67 million.
Composition Capital invests in four Asian projects
Composition Capital Partners has invested in four projects in Macau, Taiwan and Malaysia through its local joint venture partners. The property-focused investor has also exited a Tokyo office development within a year of acquisition.
Blackstone to launch Asia real estate fund
The Blackstone Group is launching an Asia real estate fund to capitalize on what Tony James, the firm’s president, described as a “golden moment” to engage in property market investment.
Indiareit completes property exits, targets new fund
Indiareit Fund Advisors, the real estate PE arm of Piramal Enterprises, has raised INR4.4 billion ($80 million) on exiting three of its investments and is now preparing to raise another offshore fund worth up to $350 million.
Bain raises $69.7m through Sunac sell-down
Bain Capital has raised HK$540 million ($69.67 million) by selling a portion of its shares in Sunac China Holdings, a Hong Kong-listed Chinese property developer.
India Infoline fund invests $20m in Gurgaon, Mumbai projects
India Infoline (IIFL) has invested INR1.1billion ($20 million) in two residential projects in Mumbai and Gurgaon, through its IIFL Domestic Series I fund.
Secura launches second Shariah compliant VC fund
Secura Investment Management, part of the Hi LITE group, has launched its second India-focused Shariah compliant venture capital fund with a size of INR500 million ($9 million).
Composition launches VinaLand counter-proposal
Composition Capital Partners, which is leading a shareholder revolt against the board of VinaLand - a Vietnam real estate fund - over reorganization plans, has now launched a counter-proposal.
Compostion Capital leads VinaLand shareholder revolt
Composition Capital is leading a large group of shareholders in Vietnam real estate fund VinaLand against a “reorganization” proposal by the company’s board.