Funds
Lightspeed closes debut China fund at $168m
Lightspeed China Partners has reached a final close of $168 million on its debut China fund, exceeding the target size of $150 million. The fund, which includes an affiliated co-investment vehicle, will target early-stage investments in the internet,...
RMB funds: Beyond the hype
Last week AVCJ held its six-monthly media briefing at which we – joined by several industry participants – reviewed private equity activity in 2012 and offered views as to what 2013 might have in store. The data made for sober reading: Fundraising...
Hahn & Co to buy Korea Line via bankrupcty process
Hahn & Co. has been selected by a bankruptcy court as the preferred bidder for a 50% controlling stake in Korea Line, South Korea’s fourth-largest shipping company. The enterprise value of the transaction is KRW1.1 trillion ($1 billion), with Hahn &...
PSERS to invest in Morgan Stanley PE Asia’s fourth fund
Morgan Stanley Private Equity Asia (MSPEA) has received a commitment of up to $100 million for its fourth fund from Pennsylvania Public School Employees’ Retirement System (PSERS). The pension system previously invested in global funds launched by Morgan...
Commonfund promotes Beijing office head
Commonfund Capital has promoted Leenong Li, head of its Beijing office and wider Asian initiatives, to managing director. He joined the firm in 2010, having previously spent five years as managing director of Jerusalem Venture Partners’ Shanghai office...
IFC raises $280m for global climate change fund-of-funds
International Finance Corporation (IFC), the private investment arm of the World Bank, has received $280 million from the governments of Canada and the UK and Azerbaijan’s sovereign wealth fund for its climate change fund-of-funds.
Kaizen, Bertelsmann invest in online education firm
Kaizen, an education-focused Indian private equity firm, has led a $4 million Series B round investment in Educomp Solution's subsidiary authorGen, which produces online education platform WizIQ. German global media company Bertelsmann has also participated...
Blackstone buys China land parcel for $482m - report
The Blackstone Group has reportedly invested more than RMB3 billion ($482 million) for 600,000 square meters of land in China's Jiangsu province. The deal was finalized in October and has received approval from the Ministry of Commerce.
Ropes & Gray appoints special situations partner in Hong Kong
Ropes & Gray has promoted Daniel Anderson as a partner in its special situations practice in Hong Kong. He was previously a counsel with the firm.
Big data, big deal?
Following the success of India’s business process outsourcing industry, big data is being touted as the next major opportunity for technology investors in the country
Summit Partners to invest $25m in The Iconic
Summit Partners is expected to invest $25 million into Australian fashion online retailer, The Iconic.
Samsung Ventures invests in Fixmo
Samusung Venture Investment Corp, the venture capital unit of Samsung Group, has invested in Canada's Fixmo, a mobile security solutions firm. Details of the transaction were not disclosed.
CapAsia taps Japanese for infra fund
As Japanese companies struggle in shrinking domestic market, government agencies and financial institutions have joined forces to promote local expertise overseas. For Capital Advisors Partners Asia (CapAsia), the country has become an attractive LP market.
MGPA in $111m Australia office building deal
MGPA, a private equity real estate investment firm, has paid A$105.67 million ($111 million) for a Grade A office building located at Perth. This is the first investment made from MGPA’s EUR500 million ($639 million) Asia property fund, a vehicle structured...
India Infoline invests in real estate project
India Infoline (IIFL) has invested INR750 million ($13.9 million) in a real-estate development project in the state of Haryana through its IIFL Domestic Series 1 Fund.
J-Star exit sees 3x return on Olive des Olive exit
J-Star, a Japanese mid-market buyout firm, has exited Tokyo clothing brand Olive des Olive to wholesale company Takisada-Osaka, securing a return of more than 3x and an estimated IRR of 35-40%.
Creditor meeting brings closure to CVC's $1.4b Nine loss
Creditors of the ailing Australian TV network Nine Entertainment have unanimously approved the company's A$3.4 billion ($3.5 billion) recapitalization, bringing a formal end to CVC Capital Partners' six-year stewardship. The private equity firm has lost...
Korea Teachers to invest in Hamilton Lane, Paul Capital
Korea Teachers Pension Fund (KTPF) will invest $30 million each to Hamilton Lane and Paul Capital as it looks to increase its global exposure to 15% of its overall private equity portfolio by 2018.
Norwest invests $11m in India's Perfint Healthcare
Norwest Venture Partners has invested $11 million in Indian medical technology company Perfint Healthcare as part of a Series D round of funding. Norwest previously invested $7.2 million in the Chennai-based company in 2010.
Century Bridge hires ex-PwC assurance executive
Century Bridge Capital has appointed Michael Yan as a director, tasked with providing strategic guidance on asset management and growth strategies. He was previously a senior manager in PricewaterhouseCoopers’ (PwC) assurance division.
SingTel Innov8, Optus launch new funding round for Australian start-ups
SingTel Innov8 and Optus have launched a second round of funding for Australian start-ups under the companies’ Innov8 seed program.
Cerberus to raise $1.7b through Aozora Bank exit
Cerberus Capital Management is set to raise 146.1 billion ($1.7 billion) as it sells the bulk of its 58% stake in Japan's Aozora Bank following a nine-year holding period.
KKR boosts Asia business by offering outbound deal access
Building relationships and generating deal flow in Asia doesn’t necessarily involve starting in Asia, according to Joe Bae, regional head of KKR. The private equity firm has made inroads in Japan, South Korea and China by providing local partners with...
The debt deadline: Japans's SMEs at a crossroads
Japan’s Debt Moratorium Law, seen by some industry participants as an impediment to PE deal flow in the last three year, is set to expire at the end of March. Does this spell new opportunities for the industry?