Mezzanine
ICG closes fourth Asia fund on $1.1b
Intermediate Capital Group (ICG) has closed its fourth Asia Pacific fund with USD 1.1bn in commitments, with nearly one-third of the corpus already deployed across four deals.
AMP Capital forms Asia infrastructure debt team
Australia’s AMP Capital has doubled down on its Asia Pacific infrastructure debt strategy with the creation of a dedicated team based across Sydney and Singapore.
Clifford Capital takes 50% stake in Singapore's Pierfront
Singapore-based infrastructure investor Clifford Capital has acquired a 50% stake in local private credit and mezzanine player Pierfront Capital for an undisclosed sum.
China mezzanine: Not the norm
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
CDH raises $1.1b for China's largest mezzanine fund
CDH Investments has closed its fifth China mezzanine fund at RMB8 billion ($1.1 billion). It is the largest vehicle of its kind ever raised solely for deployment in the country.
Golden Equator to launch $200m SE Asia mezz fund
Singapore’s Golden Equator has punctuated a spate of fundraising activity with confirmation it will launch a $200 million mezzanine and private debt fund for growth-stage companies in Southeast Asia.
Growth mezzanine: Paying their dues
Growth capital situations can provide a healthy source of deals for established mezzanine investors, but high barriers to entry will pose challenges for newcomers
GP profile: Intermediate Capital Group
In recent years Intermediate Capital Group has branched out beyond traditional mezzanine to embrace deal structures that have no sponsor. It sees ample opportunities in Asia’s developed markets
IFC proposes $20m investment in Abraaj credit fund
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a commitment of up to $20 million in the Abraaj Group’s global credit fund.
OCP Asia raises $200m direct lending fund
Hong Kong and Singapore-based hedge fund manager OCP Asia has raised a $200 million direct lending vehicle to make private equity-style credit investments in small and medium-sized enterprises (SME).
Pierfront commits $25 million to Indonesia mine operator
Singapore-based alternative credit investor Pierfront Capital has committed $25 million to Merdeka Copper Gold, an Indonesia-based operator of copper and gold mines backed by Saratoga Capital and Provident Capital.
Private debt: Pulling uphill
Selling Asian LPs on private credit strategies remains difficult for the most part, but fund managers are generally confident that interest in the asset class is set to take off
CDH closes $525m renminbi mezzanine fund
China-based CDH Investments has closed its latest renminbi-denominated mezzanine fund at RMB3.5 billion ($525 million), exceeding a target of RMB2 billion.
Everbright mezzanine fund backs western China education player
China Everbright has invested an undisclosed sum in Sichuan Hope Education Group, which claims to be the largest private education provider in western China, through its renminbi-denominated mezzanine fund.
China Everbright's mezzanine fund backs Neusoft Medical
China Everbright has invested an undisclosed amount in Chinese healthcare conglomerate Neusoft Holdings through its renminbi-denominated mezzanine fund.
China mezzanine: Hybrid solutions
Investors see more opportunities in the growth mezzanine space as China’s economy slows, but deal structuring is a challenge due to the need for onshore and offshore components
InnoVen sees potential in maturing Southeast Asian entrepreneurs
InnoVen Capital, the venture debt firm backed by Temasek and UOB, sees considerable opportunities in Southeast Asia's entrepreneurial community, which the firm's CEO for Singapore and Southeast Asia Chin Chao sees as improving faster than expected.
Corstone closes $124m Korea fund
US-based private equity firm Corstone Capital has closed a South Korea-focused fund at KRW150 billion ($124 million).
OCBC’s PE unit exits China-based Tsingda eEdu
Mezzanine Capital Unit (MCU), a PE investment unit under Singapore’s OCBC Bank, has sold its stake in China education service provider Tsingda eEdu, generating nearly 3x return on a $20 million investment made in August 2014.
Olympus, CX Partners lead $60m round for India's Nspira
Olympus Capital Asia Credit and CX Partners' India mezzanine fund have led a INR4 billion ($59 million) round for Indian management service provider Nspira.
China shadow lending: In from the dark
China’s shadow lenders are an often-misunderstood part of the private debt sector. Investors say these unregulated institutions are not necessarily a threat, but they are hard to account for
Q&A: OCBC's Daniel Kwan
The $392 million Lion-OCBC Capital Asia Fund I represents the first time OCBC has tapped third-party investors for a PE vehicle. Daniel Kwan, head of the mezzanine capital unit, explains the investment strategy
OCBC closes debut SME-focused PE fund at $392m
Singapore's OCBC Bank has closed its debut small and medium-sized enterprise-focused fund at S$550 million ($392 million).
Taiwan plans $609m M&A fund
Taiwan's National Development Council (NDC) will launch a NT$20 billion ($609 million) fund to assist domestic companies with mergers and acquisitions.
