Sino-Italian PE player Mandarin Capital Partners advised China Development Bank (CDB) as early as three years ago that it shouldn't invest in Suntech Power Holdings' southern Italy initiative due to concerns about fraud. The Chinese solar company has since announced that EUR560 million ($690 million) in German government bonds it used to secure financing from CDB were apparently forgeries.
The suspected fraud, which is now being investigated by lawyers, only came to light when Suntech recently decided to exit its 80% stake in the Global Solar Fund (GSF), a vehicle used to support Italian...
Monolith Management, an investment firm established by Xi Cao, formerly a partner at Sequoia Capital China, has set the hard cap at USD 250m for its debut China venture capital fund.
Adamantem Capital has acquired a majority stake in Retail Zoo, operator of Australia-headquartered food retail brands Boost Juice and Betty’s Burgers, from Bain Capital for an undisclosed sum.
The Carlyle Group has appointed Harvey M. Schwartz, formerly president and co-COO of Goldman Sachs, as its new CEO.
Crown Resorts represented a daunting target, given its size and pandemic and regulatory-related challenges. The Blackstone Group drew on its global know-how to make the USD 8.1bn deal work