Investments
AVCJ at 25: Luis Miranda of IDFC Private Equity
Luis Miranda became CEO of a fledgling IDFC Private Equity in 2002, raised India’s first infrastructure fund, and helped prove that the sector can make money. A flood of new capital arrived and the country is still adjusting to it
AVCJ at 25: Renuka Ramnath of Multiples Alternative Asset Management
Renuka Ramnath, founder and CEO of Multiples Alternative Asset Management, helped kick-start India VC as ICICI Venture grew from a small-scale backer of internet start-ups into the country’s leading private equity firm
AVCJ at 25: Yichen Zhang of CITIC Capital
Yichen Zhang, CEO of CITIC Capital, watched as pre-IPO strategies took Chinese private equity to unthinkable highs in the mid- to late-2000s. As the market returns to more sustainable levels, he sees control opportunities amid the chaos
AVCJ at 25: John Zhao of Hony Capital
John Zhao, founder and CEO of Hony Capital, teamed up with Legend Holdings to create China’s first buyout fund in 2003. Nearly 10 years on, he is still restructuring state-owned enterprises but also looking to go overseas
AVCJ at 25: X.D. Yang of The Carlyle Group
X.D. Yang, managing director and co-head of Carlyle Asia Partners, joined the buyout firm as it sought to up its game in China. A hugely successful insurance investment remains the landmark deal, but he expects to see more
AVCJ at 25: Joe Bae of KKR
Joe Bae, partner and head of Asia at KKR, set up the private equity firm’s regional operation seven years ago with two principal goals: being as local as possible and building a franchise that is sustainable in the long term
AVCJ at 25: Michael B. Kim of MBK Partners
Michael B. Kim, founding partner of MBK Partners, left The Carlyle Group in 2005 to set up his own private equity firm. The time was right, the capital was available, and there was a desire to become more local
AVCJ at 25: Finian Tan of Vickers Capital
Finian Tan, founder and chairman of Vickers Capital Group, identified Baidu as a start-up and guided the search engine provider all the way to IPO. It was the first in a string of post-tech bubble investments in Chinese internet companies
AVCJ at 25: Lip-Bu Tan of Walden International
Lip-Bu Tan, founder and chairman of Walden International, plotted the route by which foreign venture capital entered China’s internet sector, as well as guiding dozens of Asian companies from start-up to listing
AVCJ at 25: Roy Kuan of CVC Capital Partners
Roy Kuan, managing partner at CVC Capital Partners, witnessed a transformation in private equity in the wake of the Asian financial crisis. Suddenly he was in the buyout business, carving out assets from distressed conglomerates
AVCJ at 25: Weijian Shan of PAG
Weijian Shan, chairman and CEO of PAG, made his name in private equity turning around troubled companies for Newbridge Capital. Two bank deals helped open international investors’ eyes to the Asia buyout opportunity
AVCJ at 25: George Raffini of Headland Capital Partners
George Raffini spent 21 years with HSBC’s Asia private equity unit before the team spun out to form Headland Capital Partners in 2010. He witnessed Asia reach new highs in the 1990s before brutally falling to earth
Carlyle-backed Repco Home Finance launches IPO
Repco Home Finance (RHF), which is backed by The Carlyle Group, Wolfensohn Capital Partners and Creador, launched its IPO on Wednesday, seeking to raise INR2.7 billion ($49 million).
Australia's Blackbird Ventures reaches first close on VC fund
Sydney-based VC firm Blackbird Ventures has reached a first close of A$20 million on its A$30 million ($31 million) internet-focused venture capital fund.
Unitas to complete $800m Exego exit to Genuine Parts
Unitas Capital will complete its exit from Australian car parts supplier Exego in April through an $800 million sale, including debt, to Genuine Parts.
Capital International primed for exit from India's MSM
Capital International is expected to exit its minority stake in India's Multi Screen Media (MSM) to Sony as the Japanese conglomerate's TV production subsidiary assumes full ownership of the business.
Kotak Mahindra reaches $90m first close on India infra fund
Kotak Mahindra has reached a first close on its infrastructure fund with commitments of $90 million. Japan's Sumitomo Mitsui Banking Corporation (SMBC) and Brookfield Asset Management have come in as cornerstone investors.
MBK appoints advisor for ING South Korea bid - report
North Asia-focused buyout firm MBK Partners is said to have hired Barclays to advise on a bid for ING's South Korean life insurance business.
Li Ka-Shing's Horizon Ventures leads Nipendo round
Horizons Ventures, which manages VC investments for Hong Kong magnate Li Ka-Shing, has led an $8 million series B round of funding in Nipendo, a cloud-based trading community platform.
Bamboo Finance, DFIs back Philippines financial services start-up
Bamboo Finance has teamed up with a group of non-profit investors to commit $24 million to Bridge, a Philippines-based financial services start-up dedicated to improving rural banking. The participants include microfinance pioneer Accion and two development...
DCM, Sequoia to reduce holdings in China's Vipshop
DCM and Sequoia Capital will trim their holdings in Vipshop as the US-listed Chinese e-commerce site raises around $181 million through a share issue.
Indonesia mid-market: It's who you know
Although not overrun with GPs, Indonesia’s mid-market is difficult to penetrate. Access to local networks through which deals can be sourced is a good first step. After that, it’s entrepreneur management
Temasek commits $24m to Indian oncology chain
Temasek Holdings has invested INR1.3 billion ($24 million) in Indian cancer care hospital chain Healthcare Global Enterprises (HCG). The deal facilitates the exit of Evolvence India Life Sciences Fund, a vehicle managed by Invascent Capital.
KKR closes in on Alliance Tire buyout - report
KKR is said to be in the final stages of acquiring an 80% stake in Indian tire maker Alliance Tire Group. The deal values the company at $600 million and it will see KKR buy Warburg Pincus' entire interest in the company as well as shares from other minority...