Investments
Canada’s OPTrust opens Sydney office
Canada’s OPSEU Pension Trust (OPTrust) has opened an office in Sydney, to focus on infrastructure and private equity investment across Asia. This is its second base outside Canada.
Macquarie, SBI invest $18m in Ashoka Concessions
Private equity funds jointly managed by State Bank of India and Australia's Macquarie Group have invested INR1.1 billion ($17.9 million) in Ashoka Concessions (ACL), a toll road builder. The funding is the third tranche of a $150 million (INR 8.307 billion...
Asia PE fundraising recovers to $9.5b in third quarter
Asia-focused private equity funds raised $9.5 billion in the third quarter of 2013, up from the multi-year low of $5.2 billion in the previous quarter, according to provisional data from AVCJ Research. A total of 54 vehicles reached a partial or final...
VC-backed Forgame raises $206m in HK IPO
Forgame Holdings, a Chinese mobile game developer backed by several VC firms, saw its stocks jump 32.4% to HK$67.50 ($8.7) a share on its first day trading following its $206 million Hong Kong IPO yesterday.
DRC Capital exits Japan's Casa to Ant Capital
DRC Capital has sold Japan's Casa, a rent guarantee provider formerly known as Rento Go, to Ant Capital Partners and the firm's management. The financial details of the deal were not disclosed.
Kyoto University launches $60m venture fund
Japan's Kyoto University has launched its second venture fund, a $60 million vehicle which will invest in start-ups in Japan and the rest of Asia.
Alibaba leads $50m Series C round for Quixey
Alibaba Group has led a $50 million Series C round of investment for Quixey, an US-based search engine for apps. New investor GGV Capital and existing backers Atlantic Bridge, Innovation Endeavors, Translink Capital, US Venture Partners, and WI Harper...
China Media Capital backs Charm Communications take-private
Hong Kong-based China Media Capital is backing management buyout of Charm Communications, a US-listed Chinese advertising agency. The bid values the company at about $180 million.
Temasek commits $100m in China 21Vianet
Temasek Holdings has invested $100 million in 21Vianet Group, a US-listed Chinese carrier-neutral internet data center services provider, for about a 10% stake.
Investors see bifurcation in Asia real assets exposure - AVCJ Forum
Investor appetite for real assets in Asia is strong, but infrastructure and real estate players speaking at the AVCJ Real Assets forum in Singapore noted that the nature of demand – between real estate and infrastructure and also between different entry...
Portfolio: CVC Capital Partners and Hong Kong Broadband Network
Hong Kong has one of the most saturated and advanced broadband markets in the world. Finding new areas of growth is difficult but not impossible, says Hong Kong Broadband owner CVC Capital Partners
Tech IPOs: An issue of control
Alibaba Group wants the Hong Kong Stock Exchange to permit a bespoke IPO structure that would allow management to retain board control. By refusing, is the bourse going to forgo more China tech business?
CFOs: Hunters, not farmers
The ideal private equity portfolio company CFO is a rare creature in any market. Asia presents its own challenges in terms of recruiting appropriate talent and the issues this person must address
KKR, CDH go greenfield in China
KKR isn’t known for backing start-ups, but the risks associated with the firm’s recent foray into dairy farm ownership in China are tempered by the presence of familiar partners. For its first control deal in China and its first greenfield deal globally,...
MSPEA completes quiet Korea acquisition
Morgan Stanley Private Equity Asia’s (MSPEA) investment in Ssangyong C&B and Monalisa is like an iceberg: only one sixth was immediately visible. When the deal was first announced earlier this year, the information disclosed concerned a South Korean...
TPG exits a more diversified UT Capital
Property prices in China are inextricably linked to government policy. Vigilant to the emergence of bubbles in different geographies and segments, the authorities are ready with measures to curb price growth, but they must also ensure a sector that contributes...
NSR has an appetite for Moshe’s
“The typical Indian family stereotype today is different to that of my parents’ generation,” says Parag Saxena, founding general partner and CEO of New Silk Route (NSR). “Back then my mother would cook the meals and keep the house running while...
VC-backed Chinese online marketplace targets $150m US IPO
Chinese venture capital-backed local marketplace website 58.com filed for its US IPO, targeting up to $150 million.
Baidu, VC-backed travel website Qunar files for $125m IPO
Qunar, a Chinese travel website majority-owned by internet search giant Baidu, is looking to raise up to $125 million through an IPO in the US. GSR Ventures and GGV Capital still hold minority positions in the company but it is unclear whether they plan...
KKR acquires Panasonic healthcare unit for $1.67b
KKR has agreed to acquire an 80% stake in Panasonic Healthcare, a unit of the Japanese electronics giant, for JPY165 billion ($1.67 billion) - the buyout firm's biggest deal in the country to date.
Malaysia’s Khazanah invests in Beijing Enterprises Water Group
Mount Reskit Investments, a wholly-owned unit owned by Malaysian sovereign fund Khazanah Nasional, plans to invest HK$1.18 billion ($152 million) in Beijing Enterprises Water Group. Upon completion, it will hold a 4.95% stake in the state-owned water...
Australia’s Wolseley exits magazine publisher to trade buyer
Wolseley Private Equity has completed its second exit in a month with the sale of Australian magazine publisher nextmedia to Forum Media Group.
India eases offshore listing rules
Indian companies will be allowed to pursue IPOs overseas without first listing domestically in a move that should please private equity and venture capital investors looking for alternative exit routes. The broader policy objective is to shore up capital...
VC-backed Montage raises $71m in US IPO, closes up on first day trading
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, saw its stock jump 28% to close at $12.80 on its first day of trading on NASDAQ. It is the second PE-invested Chinese company to go public...