The Carlyle Group has appointed former Kingsoft CEO Hongjiang Zhang as a senior advisor to its Asian private equity business. The move is intended to deepen the firm’s coverage of the internet and technology space.
Zhang retired from Kingsoft in December 2016, having spent five years with the software and internet services company. Before that, he was chief technology officer of Microsoft’s Asia Pacific research...
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, plans to deploy up to $13 billion a year in direct private equity deals through two newly formed funds.
Japan Post Bank plans to increase the size of its alternatives portfolio more than fivefold in the next three years to JPY8.5 trillion ($76.5 billion). More than JPY2 trillion of this will be allocated to private equity.
Digital Garage and Toyota Tsusho, a division of Japanese automotive giant Toyota Group, have co-led a $30 million Series D round for Indian used-car trading marketplace Droom.
L Catterton Asia will invest INR1.7 billion ($25 million) in India-listed integrated fashion retailer Future Lifestyle Fashion (FLF).