Funds
Morgan Stanley invests $210m in Continuum Wind Energy
Morgan Stanley Infrastructure Partners has agreed to buy a majority stake in Continuum Wind Energy for INR12 billion ($210 million). The Singapore-based company, which was set up Essar Group executive Vikas Saraf and investment banker Arvind Bansal, runs...
Billabong poised for takeover as share price tumbles
Australian surfwear retailer Billabong International saw its stock slump 36% when it resumed trading on Monday following a heavily discounted $225 million rights issue. The company is now worth less than one third of the value of TPG Capital’s A$841 million...
KKR reaches halfway point on $6b Asia fund
KKR has reached the halfway point in fundraising for its second Asia fund, receiving more than $3 billion in commitments. According to a regulatory filing, third-party investors have pledged $2.76 billion to KKR Asian Fund II, with general partners putting...
KKR to establish investment team in Singapore
KKR will open an office in Singapore as a base for its investment activities across Southeast Asia. AVCJ understands that an announcement is forthcoming, with about eight investment professionals working out of the new office, although Ming Lu, the firm’s...
Carlyle hires Neeraj Bharadwaj as India MD
The Carlyle Group has appointed Neeraj Bharadwaj as a managing director for its Asia operations in Mumbai. It emerged last week that he was the private equity firm’s preferred candidate for the role.
Partners Group exceeds $800m with real estate fund
Partners Group has closed its Global Real Estate 2011 program at more than $800 million.
PennSERS commits $50m to Asia Alternatives' third fund
The Pennsylvania State Employees’ Retirement System (PennSERS) has committed $50 million to Asia Alternatives' third fund-of-funds, which was launched early last year with a target of $1 billion. As of September 2011, it had attracted $375 million, according...
AVCJ China Awards: VC Professional of the Year – Bo Feng
Bo Feng, founding partner of Ceyuan Ventures, on the treats and trials of VC investing in China
AVCJ China Awards: RMB Fundraising of the Year – Cowin Capital
After barely three months in the market, Shenzhen-based Cowin Capital successfully closed its Nanhai Growth Fund V in June 2011 at a total of RMB2.5 billion ($393 million). The vehicle took the VC firm’s total assets under management past RMB7.5 billion....
AVCJ China Awards: VC Deal of the Year – Dianping.com
As China’s leading restaurant reviews website, Dianping.com has developed a business model that is difficult for others to replicate. VC backers TrustBridge, Lightspeed, Sequoia and Qiming don’t expect this to change
Growth capital mezzanine: The third way
Growth capital mezzanine players are still few in number in Asia. Will struggling equity markets and tighter credit conditions open up the market for these alternative capital providers?
Cathay Life Insurance invests $30m in KKR's Asian fund
Cathay Life Insurance has committed $30 million to KKR’s second pan-Asian fund, which has a target of $6 billion. Cathay Financial Holding, the Taiwan insurer’s parent company, announced the investment in a stock exchange filing dated June 11.
Boris Bong leaves Squadron Capital for J.P. Morgan
Boris Bong, a managing director at Hong Kong-based fund-of-funds Squadron Capital, has left the company. He is joining J.P. Morgan Asset Management’s private equity group, also as a managing director.
LaSalle Investment to raise $700m Asia property fund
LaSalle Investment Management, a unit of Chicago-based Jones Lang LaSalle, is seeking to raise $700 million for an Asia Pacific property fund.
SK Group raises fund to support struggling firms
Korea’s SK Group has created a KRW100 billion ($85 million) private equity fund intended to promote shared growth with smaller partner companies. Rather than offer loans to suppliers, the fund will invest directly in competitive firms that are struggling...
Renminbi funds face a new reality
“Do you know a company called [name redacted]?” the colleague asked on the phone. “Yes,” I replied. I had been familiar with the firm and its business model for several years. It is a relatively small outfit based in Shanghai, not widely known and not...
Kumho Industrial sells $812m in assets to Korean PE fund
Kumho Industrial, the struggling South Korean conglomerate, has sold KRW946.5 billion ($811.9 million) worth of assets to a private equity fund operated by Korea Finance Corp. in order to boost liquidity. The jettisoned assets include a stake in Daewoo...
Renminbi funds face a new reality
“Do you know a company called [name redacted]?” the colleague asked on the phone. “Yes,” I replied. I had been familiar with the firm and its business model for several years. It is a relatively small outfit based in Shanghai, not widely known and not...
Ex-Apax India head to join Carlyle – report
Neeraj Bharadwaj, former India head of Apax Partners, is tipped to become The Carlyle Group’s newest managing director. The appointment would fill a vacancy created last year by the departure of Rajeev Gupta, head of the private equity firm’s India buyout...
Vermont state pension funds commit $75m to HarbourVest
A HarbourVest Partners fund targeting Europe, Asia and emerging markets has received a $10 million commitment from the Vermont Pension Investment Committee (VPIC). It is part of a $75 million investment by the committee, which represents pension funds...
Maui Capital closes fund at $190m hard-cap
Maui Capital has closed its Aqua fund at its hard-cap of NZ$250 million ($190 million). The New Zealand-based private equity firm had to turn away some larger investors.
Blackstone, Morgan Stanley buy Lloyds Australia loans for $621m - report
Blackstone and Morgan Stanley have bought 34% of a A$1.9 billion portfolio of distressed property loans for A$640 million ($621 million), from a unit of Lloyds Banking Group in Australia.
GSR closes $133m later-stage fund
VC firm GSR Ventures has closed its GSR Opportunities IV fund on $133 million. The vehicle will give existing LPs in GSR’s first four funds the chance to invest in follow-on rounds with top-performing investee companies.
KKR receives $225m from Oregon Investment Council
KKR has won a $225 million commitment from the Oregon Investment Council for its second Asia buyout fund. The buyout firm is currently raising around $6 billion for its KKR Asian Fund II, which will invest across the region.