Articles by Winnie Liu
Fosun, Axa French Club Med buyout extended
The French financial markets authority, Autorité des Marchés Financiers (AMF), has extended a takeover of France-based vacation resort operator Club Méditerranée (Club Med) by China’s Fosun International and Axa Private Equity after shareholder...
Vangoo Capital leads China’s luxury goods site Series C round
Japan’s Vangoo Capital Partners has led a Series C round funding for Secoo.com, a Chinese luxury goods e-commerce platform. The investment sum was undisclosed.Existing investors IDG Capital, French venture capital firm Vantech Capital and Shanghai-based...
China's insurers: Safety first
Chinese insurers have been able to invest in domestic private equity for three years and in overseas private equity for 10 months. Investments are proceeding slowly, but infrastructure is being put in place.
Car Clubs enters the fast lane
Bicycles are thje kings of the road in Hangzhou. Following a program that was successfully introduced in Paris, the city in China's Zhejiang province has made a stock of about 66,500 bicycles available for hire. Journeys begin at one of 2,700 stations...
China pollution control business gets $20m Series C round
Invesco WLR Private Equity and Keynote Ventures have led a $20 million Series C round funding for LP Amina, an US-based energy and environmental solutions provider. Existing investors Qiming Venture Partners and Hao Capital also participated.
China Tiantu Capital closes sixth RMB fund at $160m
Tiantu Capital has closed its sixth renminbi-denominated fund on RMB1 billion ($160 million). The vehicle will mainly invest in China's consumer sector.
MBK in exclusive talks with ING to acquire Korea unit - report
MBK Partners has reportedly entered into exclusive talks regarding the sale of ING Groep's South Korean life insurance business. The private equity firm is said to have offered KRW1.8 trillion ($1.6 billion) for the entire operation.
Mandarin Capital exits Italian valve component maker
Sino-European PE firm Mandarin Capital Partners has exited its 70% stake in Italian valves’ components producer Gasket International to Hutchinson, a French thermoplastics company. The Girelli family that founded the business has also sold its 30% shareholding....
China’s Zhonglu VC invests in five start-ups
A venture capital arm of Shanghai Zhonglu Group, a Chinese bicycle manufacturer, has invested a total of RMB36.4 million ($5.9 million) in five online technology start-ups. Zhonglu VC will take a 20% stake in each company.
New Zealand's Pan Pacific, Taiwan to set up $40m cross-border fund
Taiwan’s state-run Institute for Information Industry (III) and New Zealand-based Pan Pacific Capital have formed a $40 million venture capital fund, with a view to promoting cross-border deals and expanding bilateral cooperation.
Japan's Transcosmos buys 20% VC-backed Chinese logistics firm
Japan’s Transcosmos has bought a 20% stake in FineEx, a Chinese logistics provider backed by Shanghai Vstone Capital. The transaction size was not disclosed but it is believed to be over $10 million.
King & Wood Mallesons merges with SJ Berwin
King & Wood Mallesons and London-based SJ Berwin will merge to form a single law firm valued at $1 billion. With over 2,700 lawyers in more than 30 countries, the combined entity is expected to be one of the 25 largest law firms in the world.
China’s Car Clubs rental service secures Series A financing
Hangzhou-based Incapital and government-owned Tobon VC have provided a Series A round of funding for Car Clubs, a Chinese car rental service operator. Details of transaction were not disclosed but it is said to be in excess of RMB10 million ($1.6 million).
China Merchants sells stake in NTong Technology
The direct investment arm of China Merchants Group plans to sell its entire 12.34% stake in NTong Technology to Shenzhen-listed Unisplendour Corporation (UNIS), for RMB86.36 million ($14.07 million). The proposed deal values the company at about RMB700...
China banking reform: Share the wealth
China's first step in interest rate liberalization might herald a series of reforms that make financial services more market-oriented. But where does shadow banking fit into it?
China CYTS Tours buys back Wuzhen stake from IDG
IDG Capital Partners has existed Tongxiang Wuzhen Tourism Development to the investee’s parent company, China CYTS Tours Holding, for $67.5 million. The PE firm bought about a 16% stake for $6.47 million in 2009, implying a 10.4x return on its investment.
Mahindra Lifespace, Standard Chartered form real estate JV
Mahindra Lifespace Developers (MLD), an Indian real estate and infrastructure developer, and SCM Real Estate (SCM), a Singapore-based investment arm of Standard Chartered bank, have formed a joint venture to develop residential projects in India. The...
CIC returns to profit in 2012 on back of equities boost
China Investment Corp. (CIC) has returned to profit, reporting an annual return of 10.6% on its overseas investments last year thanks to a rally in global equities. The sovereign wealth fund saw a cumulative annualized return of 5.02% for 2012, up from...
China’s Baifendian secures $10m Series B round
Baifendian, a Chinese recommendation engine that tracks user tastes and predicts how they might rate items, has received $10 million in Series B financing from Zhejiang Shinkansen Media Investment via its Eastern Starry Sky Culture Fund.
DCM targets $250m for China VC fund
DCM is seeking $250 million for its latest China-focused fund. The target for Venture China Fund VII is less than the $400 million raised for DCM's previous vehicle, which invests in China, the US and Japan.
EQT mulls deal for Dairy Queen, Papa John’s China franchisee – report
EQT Partners intends to buy a minority stake in RCS Group, a Chinese fast-food chain operator that owns franchisee rights for the Dairy Queen and Papa John’s Pizza, from existing investor Warburg Pincus.
Bright Stone targets $4.8b for China tourism fund
China Bright Stone Investment has partnered with the Guizhou provincial government to launch the country's first tourism-focused fund, targeting up to RMB30 billion ($4.8 billion). The vehicle – Wuling Mountains travel industry investment fund - will...
China’s SAIF invests in COFCO-run food retail site
SAIF Partners has invested in Womai.com, a food and grocery B2C online platform set up by Chinese food conglomerate COFCO. Financial terms were not disclosed but the investment is said to be more than $10 million.
L Capital targets Chinese beauty
As growth slows in China's consumer sector, L Capital Asia has identified cosmetics as a segment with the qualities to withstand the broader trend. Put simply, as a woman’s disposable incomes rise, so does her consumption of premium cosmetics, particularly...