Articles by Paul Mackintosh
HarbourVest moves Flower to Hong Kong to support secondaries
HarbourVest Partners has relocated Tim Flower, a Vice President based with the firm's London office since 2008, to Hong Kong to head up its new push for secondaries investments around Asia Pacific.
Macquarie retrenches infrastructure vehicles
Macquarie Group has made a broad pullback in the infrastructure fund sector that has been long associated with the Australian investment bank. Changes include offering investors a fee discount; sacking 60 of its infrastructure staff, around 10% of the...
European Union agrees private equity/hedge fund legislation
The European Parliament and European Union member states have finally agreed upon new EU regulations for private equity firms and hedge funds operating inside the EU.
Foster's still open to private equity offers for wine unit
David Crawford, Chairman of Australia's Foster's Group, publicly said the company will still entertain offers from private equity groups for its wine business, while repeating that a c.$2.46 billion offer, reportedly from Cerberus Capital Management,...
MBK exits CNS to Want Want in 2010's biggest Asia result
MBK Partners has completed its exit from Taiwanese cable investee China Network Systems (CNS), selling its 60% stake to the head of local conglomerate Want Want China Holdings for $2.4 billion in 2010's largest Asian private equity exit, and nixing expectations...
Australia's ATO says will clarify tax issues after TPG Myer debacle
The Australian Taxation Office is due to issue its final determination on taxation of private equity profits, following the incident last year when the office launched a last-minute pursuit of TPG Capital over some $625 million of claimed unpaid tax and...
SGX, ASX agree Asia's first ever stock market merger
The Singapore Stock Exchange (SGX) and Australian Securities Exchange (ASX) have agreed to Asia Pacific's first-ever merger of stock exchanges, with a friendly takeover offer from SGX that values ASX at A$8.4 billion ($8.2 billion).
CIC benefits as AIA HK IPO prices high
China Investment Corporation (CIC) stands to benefit as a key investor as insurer AIA, the Asian arm of troubled American International Group (AIG), priced at the top of its range, valuing the company at some $30.5 billion, amid heavy investor demand....
MSPE Sihuan Pharma IPO looks to strong healthcare exit
Morgan Stanley Private Equity investee Sihuan Pharmaceutical is on track to raise $741 million, potentially rising to $850 million if a greenshoe option is exercised, after pricing its IPO high at 26.7x next year's earnings, in the world's second largest...
Wen out of New Horizon as Sihuan Pharma pre-IPO deal nixed
Leading Chinese PE firm New Horizon has confirmed that its co-founder Winston Wen Yunsong, son of PRC Premier Wen Jiabao, left the company at an unspecified date and has been working since last year for an arm of China Aerospace Science & Technology Corp.,...
New York Pacific Capital launches Suzhou RMB fund
New York Pacific Capital, the New York- and Beijing-based China-focused US merchant banking player, has announced a new RMB fund targeting RMB 300 million ($45.1 million), with investments to be focused on the greater Suzhou region of eastern China.
Partners Group in Asia
At its annual investor roundtable in Hong Kong last week, Partners Group, the Zug-headquartered $25 billion private markets investment management firm, outlined its global strategy and its view of fundamental investment drivers post the GFC.
Awards finalists – the people's choice
This year's list of finalists for the AVCJ Asian Private Equity & Venture Capital Awards, released for public voting this week, was the result of the first ever open call for nominations in the Awards’ ten-year history.
CIC opens in Hong Kong
PRC SWF the China Investment Corporation (CIC) is setting up an office in Hong Kong, its first formal business operation outside the Mainland, and has engaged Laurence Lau, former Vice-Chancellor of The Chinese University of Hong Kong (CUHK) and former...
Steamboat invests China's Gridsum Technology for online analytics
Steamboat Ventures, the Walt Disney-affiliated VC firm, has led a Series A funding round for Gridsum Technology, a Beijing-headquartered online web, video and search analytics company, for an undisclosed amount.
Liang Meng, DE Shaw & Co.
The Managing Director and CEO of the group’s Greater China business talks about the firm’s approach to private equity investing, stemming from its alternative investment pedigree.
The business of venture
Corporate venture capital has had an uneven reputation alongside traditional firms.
Actis exits Sri Lanka's Ceylon Oxygen to Linde Group
Actis has exited its 95% stake in Sri Lankan industrial and medical gases business Ceylon Oxygen to global strategic peer The Linde Group, for an undisclosed amount.
Shanghai QFLP program for non-Chinese RMB LPs approved
The pilot Qualified Foreign Limited Partners (QFLP) guidelines floated in Shanghai to allow international LPs to invest into Shanghai-incorporated RMB-denominated private equity funds have been approved by China’s central financial regulators, according...
Jordan exits China's International Mining Machinery
The Jordan Company has exited part of its holding in PRC mining equipment manufacturer International Mining Machinery (IMM), which listed on the HKSE in February 2010, receiving some $151 million.
GSR's Fong made HYSTA Investor of the Year
Kevin Fong, US-based Special Advisor for China/US VC investor GSR Ventures and former Mayfield Fund MD, has been named the inaugural "Investor of the Year" by the Hua Yuan Science and Technology Association (HYSTA), a leading Chinese American VC and entrepreneur...
Huawei's Chee leaves to form new China SME fund Junsan
Jonathan Chee, former head of the Principal Investment unit at PRC telecoms major Huawei Technologies, has resigned to launch a new fund, Junsan Capital, focused on growth and late-stage investments in China SMEs.
Hopu split reports denied
Reports and market talk of a split at the top of Hopu Investment Management, the $2.5 billion China-linked private equity and multi-strategy investment group, have been denied by sources close to the firm, which in fact appears to be nearing the threshold...
SVB Finanical Group opens Beijing office
SVB Financial Group, the parent of Silicon Valley Bank, has opened an office in Beijing, to provide VC investors and hi-tech companies with advisory services including arranging RMB loans with local partners.