Articles by Paul Mackintosh
AgBank follow-on pushes over record
The Agricultural Bank of China, invested by the China Investment Corp (CIC), Singapore's Temasek Holdings and the SWFs of Qatar and Kuwait, has seen a follow-on share issue to its Hong Kong and Shanghai IPO push the listing's total value to an all-time...
MakeMyTrip IPO sees strong result for VCs
VC-invested Indian travel company MakeMyTrip saw a 92% share hike on its first trading day on the NYSE, with stocks rising up to $26.81 from the $14 offer price in the best US IPO debut performance since late 2007.
TPG said to be supporting Alinta restructuring
TPG Capital has been in discussions with Alinta Energy, one of Australia's leading power generation groups, for its debt investment arm to support a restructuring of the business as it explores options, including asset sales, to pay off some A$2.7 billion...
Apax, General Atlantic to support SouFun float
European private equity major Apax Partners and US large-scale VC leader General Atlantic are to jointly underwrite the NYSE IPO of leading PRC real estate portal SouFun Holdings, 51% invested by Australian telecom incumbent Telstra Corp.
China Kanghui sees NYSE IPO rise
VC-backed PRC orthopedic implants manufacturer China Kanghui Holdings saw its shares rise some 3.8% from $10.25 to $10.64 on its NYSE debut, the middle of its planned pricing range, raising some $68.4 million.
Macquarie SBI fund picks up Quippo stake
The Macquarie SBI Infrastructure Fund has made an INR1400 crore ($304 million) investment in Viom Networks, a cellular telecoms tower company formerly known as Quippo-WTTIL, for 11% of the group, with another investor, possibly WL Ross & Co., also participating....
AIG looks to SWFs, PE for AIA pre-IPO stakes
Still-troubled US insurance giant AIG has approached Temasek Holdings and other - chiefly MENA - SWFs, as well as private equity firms and Chinese institutions to offer pre-IPO stakes in its Asian subsidiary AIA, according to reports.
Piper Jaffray hires Teo for Hong Kong
US specialist investment banking and securities firm Piper Jaffray has announced the hire of KB Teo, previously with Goldman Sachs, as its new head of technology, media & telecommunications (TMT) and cleantech for Asia, based in Hong Kong.
MBK KEB bid status in doubt
MBK Partners' bid for the 51% stake in Korea Exchange Bank owned by Lone Star Funds is in doubt following conflicting reports from Korea, with some media indicating that the buyout firm has failed to put together an acquisition consortium, and others...
Al Salam opens Asia-focused MENA bank PE fund platform in Singapore
Al Salam Asia-Pacific, a subsidiary of Al Salam Bank-Bahrain, has opened in Singapore to focus on private equity investment in the region, with $500 million of the group’s capital already allocated for investment targeting deals of around $10-50 million...
Intel, JPM investee Trony pulls IPO
Trony Solar Holdings, a Shenzhen-headquartered thin-film solar power module manufacturer invested by Intel Capital and JPMorgan Special Situations, has withdrawn its planned NYSE IPO.
Canaan invests e-shopping with Naaptol
VC firm Canaan Partners has invested some INR40 crore ($8.67 million) in India e-shopping site Naaptol.com, which claims to be the country's largest online shopping platform, for a 25% stake.
Green Pine invests Dingchu for energy conservation
Shenzhen-based PE firm Green Pine Capital partners has invested RMB30 million ($4.4 million) into Hangzhou Dingchu Technology Co. Ltd., an energy conservation and water-recycling business, for a 25% stake in the company.
Portfolio Advisors now open in Hong Kong
Portfolio Advisors, a leading Connecticut-headquartered private equity investment advisory and portfolio management firm, has recently opened a new office in Hong Kong, its first Asian presence, under director Jonathan English.
CPPIB Intoll discussions ongoing
Canada Pension Plan Investment Board is still in discussion with Australian ASX-listed toll road player Intoll Group over its $3.44 billion privatization offer, according to a statement from the target.
Hana in line for Woori, may target KEB
Hana Financial Group, Korea's fourth-largest lender, has emerged as the sole current contender for Woori Financial Group, with the Blackstone Group apparently not putting forward its expected bid, though Hana has said it also may consider a bid for Lone...
Taiwan studies SWF plan
The Taiwanese government has set up a consultation process on plans for a potential sovereign wealth fund to manage some of the island economy's substantial state holdings, according to reports.
Foods and agriculture – the next big theme?
A series of recent deals, such as the Carlyle Group’s $190 million investment in Singapore-listed industrial fishing company China Fishery Group, and the a $600 million pre-IPO investment led by Capital International and the Blackstone Group into Dili...
WuXi Pharma sees no exit via Charles River
VC-invested PRC pharmaceutical major WuXi PharmaTech saw its $1.6 billion sale to US peer Charles River Laboratories fail over opposition from major shareholders in Massachusetts-based Charles River, including Neuberger Berman and hedge fund Jana Partners....
CDH IV final close at $1.46 billion
CDH Fund IV, the China-focused private equity fund regarded by many as a bell-wether for capital-raising exercises for the PRC, has closed at $1.46 billion, according to information given to AVCJ.
Murray's GEMS does new Sino-Forest deal
Entities under General Enterprise Management Services Ltd. (GEMS), the private equity platform of veteran investor Simon Murray, have completed the latest transaction related to noted GEMS investee Sino-Forest Corp., with a new investment and subsidiary...
SPECIAL ANNOUNCEMENT: Shanghai International Private Equity Forum
AVCJ has joined the Shanghai Private Equity Association, CEIBS Lujiazui International Finance Research Center, Shanghai Huangpu District Peoples Government, and the Institute of Finance and Banking of the Chinese Academy of Social Sciences as a co-organizer...
CCB International sees 4x exit with China ITS
CCB International Asset Management Ltd., the investment and asset management arm of PRC lender China Construction Bank, has claimed a 4x return on one of its earliest deals, the 2006 investment into China ITS (Holdings) Co. Ltd., a leading PRC intelligent...
Summer daze
AVCJ is taking a well-earned break, but astute readers will already have noticed that summer is a’coming in on anything but a quiet note.