Articles by Anita Davis
SciClone buys VC-backed NovaMed
California-based SciClone Pharmaceuticals Inc. has acquired Fidelity Asia Ventures- and Atlas Venture-backed NovaMed Pharmaceuticals Inc., a Chinese specialty pharmaceutical firm, for approximately $62 million in the form of cash and shares.
Lashou ups ante for group-buying niche
Chinese group-purchasing website Lashou.com received $110 million in a Series C financing round, bringing its total funding raised by VC to $166 million – the most capital any group-purchasing company in China has received, Lashou claims, coming as competition...
KKR inks largest-ever PE deal in Vietnam
Vietnam's status as a rising star in Asia’s private equity landscape was validated this week when KKR brokered the largest-ever PE deal in the market, acquiring a 10% stake in Masan Consumer Corporation for $159 million.
VC-backed travel portal gets $40m
VC-backed Indian travel portal Cleartrip Travel Services has received a $40 million capital injection from online travel and management firm Concur Technologies Inc., buying US-based Concur an undisclosed minority stake in the company.
TPG to invest $150m in solar energy firm
TPG Capital may invest up to HK$1.2 billion ($150 million) for an approximate 21% stake in solar wafer manufacturer Comtec Solar Systems Group, marking the PE firm’s first foray into China’s solar-energy segment.
Kefei Li joins Wilson Sonsini Goodrich & Rosati
Tech and enterprise-focused law firm Wilson Sonsini Goodrich & Rosati has appointed Kefei Li as a China-based Partner, joining from Skadden, Arps, Slate, Meagher and Flom in Beijing.
Harbin's CEO to make another privatization bid - reports
The CEO of Harbin Electric, a NASDAQ-listed developer and manufacturer of electric motors, is reportedly set to make his bid to privatize the company, Reuters reported.
NewQuest, backed by PE consortium, acquires BoaML Asia's non-real estate assets
A newly launched fund managed by NewQuest Capital Partners, backed by a consortium consisting of Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia, has acquired “substantially all” of Bank of America Merrill Lynch’s (BoaML) non-real...
DST to open in Hong Kong - reports
DST Advisors, the VC investor headed by celebrity Russian entrepreneur Yuri Milner, is reportedly in the process of setting up shop in Hong Kong, Reuters reported, citing sources close to the firm.
FountainVest, Spring Capital buy into Chinese jewelry distributor
China-focused PE firms FountainVest Partners and Spring Capital Asia have bought a 28.27% stake in China-based Enzo Jewelry for more than $41 million, coming as Enzo’s owner, LJ International, considers spinning Enzo off via an IPO in the future.
Renaissance Capital appoints Sheldon Trainor Asia Chairman
Emerging markets-focused Renaissance Capital has named Merrill Lynch Asia’s former head of investment banking Sheldon Trainor as Chairman of its Asian operations, based in Hong Kong. He is charged with bolstering the investment bank’s strategy in the...
VIDEO: How Australian PE is unique
While each of Asia Pacific's markets has their own unique private equity hallmarks, Australia' industry is notable for its maturity, proximity to Asia's larger sector and for its straight-talking professionals.
KKR brokers largest PE deal in Vietnam
KKR has completed the largest-ever private equity deal in Vietnam, buying a 10% stake in Masan Consumer Corporation, a division of domestic private-sector powerhouse Masan Group, for $159 million.
IL&FS fully exits warehouse operator to Warburg Pincus
The Leverage India Fund (LIF), a private equity fund managed by IL&FS Investment Managers Limited with $153.5 million under management, has exited its five-year asset Continental Warehousing Corporation (Nhava Seva) Limited via a trade sale to Warburg...
Goldman buys into major Chinese insurer
One year after the private equity arm of Goldman Sachs set its sights on a sizable minority stake in Chinese insurance major Taikang Life Insurance, Goldmans PIA has finally closed the deal, thus marking its latest foray into the PRC’s booming sector....
KKR's Yageo offer reflects Taiwan's strength
KKR Asia, with company Chairman Pierre Chen, has offered $1.6 billion for Taiwanese electronic components manufacturer Yageo Corporation in a show of force that gives gravitas to a market that has largely lost its luster to regional private equity managers....
Lashou gets VC dollars as PRC group-buying sector heats up
Chinese group-purchasing website Lashou.com has received $110 million in a Series C financing round led by Milestone Capital, and included participation from Richemont’s affiliates Reinet Fund SCA FIS, Remgro Limited and previous investors GSR Ventures,...
Unitas, CCMP hold Edwards listing
One month after Unitas Capital and CCMP Capital announced that their British vacuum-parts brand Edwards Group would list in the UK, the private equity owners have reportedly called the process off to await more stable market conditions.
Goldman's Taikang stake acquisition finalized
Goldman Sachs has acquired a 12.02% stake in China's Taikang Life Insurance Co Ltd. – a slice reportedly worth more than $900 million.
Matrix Partners invests in education-services firm
Maharana Infrastructure and Professional Services Private Limited (MIPS) has received INR50 crore ($11.3 million) from Matrix Partners India in its first round of institutional funding, making Matrix its sole investor.
Tata Capital makes first close
Tata Capital has completed the first close of its newest India-focused private equity vehicle, the Tata Opportunities Fund LP, raising $450 million.
Asian funds set to maintain high management fees - Squadron
Despite the emerging status of Asia Pacific’s private equity market, the region’s largest funds charge more than those from the West when it comes to management fees, an annual survey conducted by Squadron Capital finds, and are unlikely to drop anytime...
Standard Chartered PE invests in basmati rice group
Indian basmati rice producer Bush Foods Overseas Private Ltd. has received a $25 million investment from Standard Chartered Private Equity, used for the company’s expansion.
Second Oz retailer heads into receivership
Australian clothing and footwear retailer Colorado Group, controlled by Affinity Equity Partners, has been taken into receivership, marking the second Australian big-name PE-backed brand, after Pacific Equity Partners’ REDgroup Retail, to go down the...