Articles by Allen Lee
Crosby subsidiary launch new fund
Shikumen Capital Management, a wholly owned subsidiary of Hong Kong-listed Crosby Capital Limited, announced the launch of a fund focusing on privately negotiated deals in Greater China, including late-stage growth capital and distressed and opportunistic...
VCs sell drug maker for up to $935m
Walden International and a number of other VCs will exit from their nearly decade-long investment in cancer drug maker Plexxikon after Japan’s third largest drug maker, Daiichi Sankyo, announced its acquisition of the Berkeley, California-based company.
Big is Better: Are mega funds making a comeback?
As the Asian private equity industry's biggest funds gear up for the next big round of fundraising, the question that comes to mind is “how large will Asian private equity funds become?” While Asian funds will still have a long way to go before they...
The fundraising success story
Baring Private Equity Asia ended a global slump on fundraising when it closed its fifth fund on $2.46 billion, 60% more than its predecessor, in less than six months. AVCJ speaks with the Managing Partner on the renewed institutional interest in Asian...
CVC appoints bookrunners for Samsonite IPO
CVC Capital Partners controlled luggage maker Samsonite has reportedly mandated Goldman Sachs, HSBC, Morgan Stanley, Royal Bank of Scotland and UBS for its planned IPO on the Hong Kong Stock Exchange later this year. The listing is expected to raise around...
The sector specialists
Middle market deals have been a sweet spot in for PE firms in Asia, but competition in is also intense in the U.S. Sector-specific knowledge could be the key to success, as AVCJ finds out from Tony de Nicola, Co-President of Welsh, Carson, Anderson &...
What is really happening in the Australian private equity market?
It sure doesn’t feel like it, but AVCJ has been holding its annual Australia conference for the eight consecutive years now. And what a spectacular eight years they have been, not only for our conference but also for the private equity industry Down...
Sumir Chadha talks about new venture, Westbridge
After five years with Sequoia Capital, Sumir Chadha and longtime partners K.P. Balaraj, S.K. Jain and Sandeep Singhal are leaving the Indian operations of the Silicon Valley firm. The group will take their original name Westbridge, which they founded...
Joncarlo Mark to leave CalPERS
One of private equity's most prominent investors, Joncarlo Mark, has resigned from his position as senior portfolio manager of CalPERS’s $32 billion Alternative Investment Managers program.
Swiss Asia launch infrastructure fund, makes first investment
Swiss-Asia Financial Services recently announced the launch of its new infrastructure investment product, the China District Energy Fund, with a total target size of €500 million ($678 million).
The bear in China
As the recently released AVCJ 2011 China Report showcases, while private equity was back with a vengeance over the last 12 months – in fundraising, investments and exits – there are larger, macro issues on the horizon that may negatively impact short-term...
Leaving the mother ship: Asian professionals on their own
What a difference a year makes.
EQT acquires Taiwan's Gala TV
EQT Greater China continues its investment run via the acquisition of Taiwan's Gala TV in a partnership with CEO Lin Poa-Chuan as co-investor. No financial details were disclosed.
STIC Investments shuffles management
Leading South Korean private equity firm STIC Investments has announced a change in its management team with high-flying CEO Kevin Lim resigning from his day-to-day duties with the Seoul-headquartered firm. He will remain in an advisory role as Vice Chairman....
Lexington Partners opens Asian office
Lexington Partners, the world’s largest secondaries manager, has recently set up a Hong Kong office. The office will be helmed by Kirk Beaton, who relocated in mid-January from the firm’s London operations.
Private Equity Hops Ahead in the Year of the Rabbit
THE CHINESE NEW YEAR WILL BE UPON us in a few days and the celebration is already beginning, as shopping malls and office buildings are decked in peach blossoms, fake firecrackers and other ornaments, all ushering the year of the Rabbit to come. The Rabbit,...
More than meets the eye
Early indications suggest that the next 12 months will be a bumper year for the private equity industry. It seems that every fund we talk to has a number of liquidity events in the making, while many notable names are looking to be back in the fundraising...
DB's Pying-Huan Wang joins Swiss-Asia as Hong Kong head
Longtime PE professional Pying-Huan Wang has left the private equity group of Deutsche Bank, where she was head of investment management, to join Swiss-Asia Financial Services as Head of Infrastructure Investments. She will relocate from Zurich to run...
The RMB and Chinese private equity
Chinese leader Hu Jintao will meet with his American counterpart, Barrack Obama this week in the US. While geo-political issues will feature in the summit, economic and trade issue will loom large in the agenda in this meeting, described as the most important...
Permira appoints co-heads of Asia
European private equity giant Permira has announced the promotion of Henry Chen (pictured) and Alex Emery to partners and co-heads of Asia. The duo will be in charge of the development of the firm across Asia Pacific, with particular focus on Greater...
SingTel unit leads local series A
Singapore Telecom's recently launched venture capital unit, SingTel Innov8, has made its first investment, leading the Series A financing of locally grown 2359 Media. Innov8 invested approximately S$800,000 in the mobile advertisement platform creator,...
ILPA updates Private Equity Principles
The Institutional Limited Partners Association (ILPA) has released an updated version of its Private Equity Principles and the first of its five recommended Standardized Reporting Templates that aims to drive best practices and support long-term partnerships...
OMM adds private equity partner
Anticipating a bumper year for its Asian private equity practice, law firm O’Melveny & Myers LLP has announced that private equity partner James Ford will transfer to its Hong Kong office from London.
The evolution of Australian private equity
Recently, there has been a lot of discussion in the AVCJ office about the Australian private equity market (naturally, as we are preparing for our Sydney event scheduled for March 2011) and the ongoing evolution of the asset class down under.