Articles by Paul Mackintosh
Carlyle, Temasek see flat Kaisa IPO
The Carlyle Group and Temasek Holdings saw their investee Shenzhen property developer Kaisa Group Holdings begin trading on the Hong Kong Stock Exchange main board, in an IPO postponed since early 2008.
Baring, Fidelity, Sequoia back Coastal Projects
Baring Private Equity Asia is reportedly due to join existing investors Sequoia Capital and Fidelity Investment Holdings by committing some $50-60 million to Hyderabad-headquartered infrastructure play Coastal Projects, which operates across sectors including...
Malaysia's MOL gives US VCs Friendster exit
Malaysian online payments business MOL Global Pte. Ltd. has agreed to acquire Friendster Inc., one of the pioneering social networking sites, giving VC investors Benchmark Capital, DAG Ventures, Founders Fund, Kleiner Perkins Caulfield & Byers and Siguler...
AXA Taikang sale hits delays
The proposed c.$1 billion auction of AXA’s 15.6% stake in PRC insurance major Taikang Life, which has already apparently attracted the interest of the Blackstone Group, Kohlberg Kravis Roberts & Co., and Temasek Holdings, has reportedly been postponed....
A tale of two markets
As the year end approaches and deal teams coast to a gentle standstill before Christmas, fundraising developments bulk large in the headlines, and industry talk augurs more to come.
China Nuokang sees low US IPO
Sequoia Capital China investee China Nuokang Bio-Pharmaceutical Inc. fell over 11.1% before closing some 3.7% down on its first day of trading on the US NASDAQ.
Bain, GA, KKR cited in CICC stake bidding
Kohlberg Kravis Roberts & Co. has been named as a potential bidder for the 34.3% stake in leading PRC investment bank China International Capital Corp. (CICC) held by Morgan Stanley.
IFC, S&P launch emerging markets carbon index
The International Finance Corporation (IFC) and Standard & Poor’s have partnered to launch the S&P/IFC Carbon Efficient Index, a carbon efficiency index for emerging markets companies intended to drive carbon emission reductions in developing countries....
Australian Catholic Super invests Partners Group, Lexington
The Australian Catholic Superannuation and Retirement Fund (ACSRF) – which recently changed its name from the Catholic Superannuation and Retirement Fund – has reportedly made two new private equity commitments of A$50 million ($46.3 million).
China Pacific IPO priced at $3.6 billion
The IPO of China Pacific Insurance, the country’s third largest life insurer and 17.3% owned by the Carlyle Group, is set to raise as much as HK$28 billion ($3.6 billion) in Hong Kong.
PRC State Council makes new partnership rule
China’s State Council has announced a new rule, ‘Administrative Measures on Partnership Enterprises Established by Foreign Enterprises or Individuals,’ that will allow foreign entities to form partnerships in China, with local entities or independently....
Hopu engages ex-ambassador Randt
Leading $2.5 billion PRC opportunistic private equity fund Hopu Investment Management has engaged Clark T. “Sandy” Randt Jr., the former US Ambassador to China under President George W. Bush, as its new special advisor.
CHAMP Ventures invests TSMarine
In the latest in a series of Southeast Asian oil and gas offshore servicing deals, CHAMP Ventures, the specialist mid-market arm of Australia’s CHAMP group, has acquired the Asia Pacific businesses of financially distressed Scottish parent TSMarine (Contracting)...
TPG, AA up JAL offer
American Airlines CFO Tom Horton said publicly in Tokyo that his company and TPG Capital would increase their joint investment offer for struggling Japan Airlines, indicating up to $1.1 billion could be committed, much of it drawn from TPG.
LP mythbusters miff GPs?
Another week: another milestone along the fundraising trail.
CIC at the Apax?
The China Investment Corporation (CIC) has followed up on its earlier and sometimes ill-starred moves into leading private equity players like the Blackstone Group with an innovatively-structured two-handed investment into London-headquartered Apax Partners....
OrbiMed debuts in India with Ecron Acunova
OrbiMed Advisors, which describes itself as “the world’s largest healthcare investment firm,” has made its first India investment with a commitment to Bangalore-based clinical research business Ecron Acunova, which handles outsourced clinical trials for...
LPs lose love for private equity?
The winter 2009-10 edition of the Coller Capital Global Private Equity Barometer suggests that international investors’ perceptions of private equity as an asset class have taken a sharp lurch downwards since the global financial crisis broke.
Nippon Mirai will back Nissan dealers
Japanese private equity firm Nippon Mirai Capital Co. will reportedly support major domestic automobile manufacturer Nissan Motor Co. in the restructuring of its dealership affiliates, Nissan Prince Osaka Co., and Osaka Nissan Co., under a new joint venture...
Mizuho exits Japan Pure Chemical
Mizuho Capital Partners Co., the private equity affiliate of Japanese lender Mizuho Group, has sold its remaining 5.4 % stake in investee Japan Pure Chemical Co, reportedly to an unnamed US pension asset management firm.
MBK acquires Young Hwa, targets Kumho Rent A Car
MBK Partners has reportedly completed the 100% acquisition Korean steel structures manufacturer Young Hwa Engineering Co., paying around $85 million, with roughly 50% of the purchase price to be funded by leverage from Hana Bank.
Honiton seeks new investor
PRC wind power developer Honiton Energy Group has reportedly engaged Morgan Stanley to find a potential buyer for a minority stake, in a deal which could value the whole business up to $250 million.
Carlyle gets offers for Willcom
The Carlyle Group’s 60%-owned investee Willcom Inc, a PHS (Personal Handy Phone) carrier in Japan, has received proposals from a number of potential buyers, including Softbank, Japan’s third largest mobile carrier, as well as other investment funds.