The Chinese private equity market has lost a lot of its momentum in the past 12 months, with fundraising and investment dropping significantly, particularly in the latter half of 2012. Renminbi fundraising appears to have ground to a near halt, contributing to a more than 50% year-on-year drop in capital entering China-focused vehicles as a whole. Investment numbers are propped up by one deal – the $3.9 billion private equity tranche that formed part of Alibaba Group’s $7.6 billion buyback from Yahoo.
On the macro side, China has gone through quite a few changes. Economic growth is likely to be the slowest in more than two decades and we are in the midst of a once-in-a-generation leadership transition,...
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
Bertelsmann India Investments has earmarked USD 500m, provided by its eponymous German parent, for investment in local start-ups. The VC unit’s total deployment since its launch in 2013 is USD 285m.
UK-headquartered incubator Entrepreneur First (EF) has raised USD 158m, targeted in part at investment in Southeast Asian start-ups and expanding its reach in the region.
CDH Investments has agreed to sell New Zealand-based supplements manufacturer The Better Health Company (TBHC) to Nestlé Health Science for an undisclosed sum.