Articles by Winnie Liu
Actis exits Chinese kitchen equipment maker to US trade buyer
Actis has sold its stakes in Chinese commercial kitchen equipment maker Vesta to Illinois Tool Works (ITW), a US industrial equipment manufacturer. Terms of the transaction were not disclosed.
AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients...
Credit China, jeweler Chow Tai Fook form RQFLP fund
Hong Kong jeweler Chow Tai Fook has teamed up with financial services provider Credit China and private equity firm VMS Investment to form a closed-end Renminbi Qualified Foreign Limited Partnership (RQFLP) fund. The vehicle, named Chongqing Run Ke Equity...
CSRC to regulate Chinese PE, NDRC to promote it – State Council
China’s State Council appears to have resolved the regulatory spat over domestic private equity, designating the China Securities Regulatory Commission (CSRC) as the single agency responsible for the asset class. The National Development and Reform...
Friend or foe? Chinese M&A in the US
Chinese companies are keen to acquire assets overseas and the US is a popular target. Success hinges on satisfying regulators, appeasing politicians and persuading sellers of their ability to execute transactions
China’s Boyu targets $1.5b for second fund – report
Boyu Capital is reportedly planning to raise $1.5 billion for its second fund, a 50% increase on Fund I. The China-focused vehicle is expected to launch in the second half of the year.
CITIC Capital closes VC fund on $113m
CITIC Capital has reached a final close of on $113 million on its debut venture capital fund, short of the $150 million target.
CDH commits $97m to China's New Focus Auto
CDH Investments has invested $97.37 million in Hong Kong-listed auto after-sales service provider New Focus Auto (NFA) through a subscription to ordinary shares and convertible bonds. Upon full conversion it will own 63.2% of the company.
Limetree Capital targets $325m for car parking fund
Hong Kong-based Limetree Capital is targeting $325 million for its China Car Park Investment Fund, which will address the country's lack of parking spaces.
Take-private deals for China's 7 Days, Feihe near completion
Chinese budget hotel chain 7 Days Group Holdings is set to be privatized after shareholders voted in favor of a PE-backed management buyout that values the company at around $688 million. A $147 million privatization of Chinese dairy firm Feihe International...
Telstra Ventures provides Series D funding for Kony Solutions
Telstra Ventures, the VC arm of Australian telecom operator Telstra, has committed $18.3 million in a Series D round of funding for Kony Solutions, a US-based mobile applications developer. The size of its stake was not disclosed.
AVCJ China Awards: VC Professional of the Year – Lei Jun
Twenty years ago, Lei Jun joined Chinese software company Kingsoft and dedicated himself to developing its flagship product, WAP Office, a word processing system primed to challenge Microsoft’s mid-1990s offering. It lost.
AVCJ China Awards: Exit of the Year – China Pacific Insurance
“The transaction, the largest private equity investment in China to date, is a testimony to the maturing investment and regulatory environment in China and to the government’s commitment to financial reform,” X.D. Yang, managing director and co-head...
AVCJ China Awards: PE deal of the year – Alibaba Group
AFTER THREE YEARS OF ON-AND-OFF negotiations with Yahoo, Alibaba Group finally agreed to repurchase half of the US internet firm’s 40% stake in itself for $7.6 billion last September. Supported by $5.9 billion in financing, of which $3.9 billion was...
AVCJ China Awards: RMB fundraise of the Year – CDH Investments
CDH Investments did not get into the renminbi fund space as part of the mad rush for heady exit multiples on Chinext. The private equity firm’s involvement dates back to several years earlier and it owes much to China’s regulators restricting offshore...
AVCJ China Awards: PE professional of the Year – Homer Sun
Somewhat unusually for Morgan Stanley Private Equity Asia’s (MSPEA) China team, the last 12 months have been dominated by buyout deals. Leading Beijing convenience store chain Hi-24 was acquired last November through a corporate carve-out and then two...
Cerberus fails in challenge to Seibu board
Cerberus Capital Management failed to its attempt to assert more control over the management of railway and property group Seibu Holdings, as shareholders voted down the PE firm's plan to secure more board seats.
Clifford Chance appoints Latham partner to head Singapore funds team
Clifford Chance has hired Latham & Watkins partner Kai Schneider to lead its funds team in Singapore. He replaces Han Ming Ho, who is leaving for Sidley Austin.
Yonyou Software sells RayooTech stake to Shenzhen Fortune ahead of IPO
China’s Yonyou Software will sell its entire 18.73% stake in Beijing RayooTech company for RMB75.37 million ($12.26 million) to Shenzhen Fortune Venture Capital. This comes ahead of an expected IPO for RayooTech.
Asia travel search engine Wego gets $17m in Series C funding
Crescent Point has led a Series C round of funding worth $17 million for Wego, an Asia travel search engine. Victoria Capital and existing investor Tiger Global also participated.
Baird backs China children’s education platform
Baird Capital, the private investment arm of Robert W. Baird, has committed an undisclosed sum to Peter Winn, former China president at English First Professional (EF), to explore education sector investments in the country.
Quadria hires Rajesh Singhal to boost India coverage
Quadria Capital has appointed Rajesh Singhal as principal managing partner. He will take responsibility for the education and healthcare portfolio companies in India Build-Out Fund I, a vehicle acquired from Milestone Religare Investment Advisors three...
No timetable for re-opening China IPOs – regulator
The China Securities Regulatory Council (CSRC) said it doesn’t have a timetable for resuming IPOs, in response to media reports on last Tuesday that new shares could be listed in July.
SEAVI Advent reaches $125m first close on Fund VI
SEAVI Advent Private Equity, the Asian arm of Advent International, has reached a first close of $125 million on its six fund - SEAVI Advent Equity Fund VI. Commitments came from high net worth individuals, corporate institutions and family offices, while...