Funds
Red Fort to raise $500m for third fund - report
Red Fort Capital Advisors is reportedly planning to raise $500 million next year for its third Indian real estate fund.
Coller closes new secondaries fund above target at $5.5b
Coller Capital has reached a final close of $5.5 billion on its latest global secondaries fund. The new vehicle is larger than its predecessor, which closed in 2007 at $4.8 billion, and above the initial fundraising target of $5 billion. The fund has...
Blackstone names Baratta head of global private equity
The Blackstone Group has promoted Joe Baratta to head of global private equity. He currently leads the firm's European private equity operations.
Zhenrong Energy makes offer for Warburg-invested Titan
Guangdong Zhenrong Energy has offered to pay HK$150-200 million ($19.3-25.8 million) for at least 51% of Titan Petrochemicals, the debt-laden shipping and oil storage firm against which Warburg Pincus has asked a court to launch liquidation proceedings....
China to buy LP interests from GM pension plan
The Chinese government has agreed to buy stakes in a string of private equity funds, including vehicles managed by The Carlyle Group, The Blackstone Group and CVC Capital Partners, from General Motors’ (GM) pension plan.
China secondaries: Fresh start or false start?
China’s PE Secondary Market Development Alliance is meant to facilitate the trading of LP interests in renminbi funds. The absence of local expertise, portfolio transparency and mature LPs are obstacles to this.
Bain closes second Asia fund at $2.3b
A host of leading PE firms is in the market, seeking to raise pan-Asia funds of $2 billion or more. Last week, Bain Capital became the first to cross the finish line. Its second regional fund closed at $2.3 billion, roughly halfway between the initial...
Munich Private Equity Partners opens office in Shanghai
Munich Private Equity Partners (MPEP) has opened an office in Shanghai as it looks to increase investment allocations to Asian markets.
Pantheon closes sixth Asia fund at over $700m
Pantheon has secured more than $700 million for its sixth Asia-focused fund-of-funds, sources confirmed to AVCJ. The amount raised for Pantheon Asia Fund VI surpasses earlier speculations which put the amount at $500-600 million.
Titan considers stake sale as Warburg takes legal action
Titan Petrochemicals, the Hong Kong-listed shipping and oil storage firm, is in talks to sell a controlling stake to an unnamed third-party investor. The announcement comes as the company faces a winding up lawsuit filed by Warburg Pincus.
Singapore's Jungle Ventures invests in Mobikon
Jungle Ventures has led a $ 1.7 million round of investment in Mobikon Asia, a Singapore-India start-up that provides an integrated digital marketing platform to help hospitality and retail clients connect with consumers.
Nirvana Venture backs Indian prepaid services provider
Mumbai-headquartered payments provider TranServ has raised an undisclosed amount from Nirvana Venture Advisors. The investment will allow TranServ to scale up operations and deliver its planned products.
GSR Ventures leads $84m round in Protean Electric
GSR Ventures has led an $84 million funding round in US-based Protean Electric, a developer of in-wheel electric drive systems. The capital will be used to set up manufacturing facilities in Liyang, Jiangsu province, bringing Protean's electric drive...
TA, Qiming, Ignition invest in Chinese online game developer
TA Associates, Qiming Venture Partners and Ignition Capital Partners have purchased a significant minority stake in Chinese online gaming company Forgame Tech. Terms of the investment were not disclosed.
Fidelity, Qualcomm lead Series C round for Bigshoebazaar
Fidelity Growth Partners and Qualcomm Ventures have led a Series C round of funding worth INR1 billion (US$18 million) for Indian online wholesaler Bigshoebazaar. Existing investors Nexus Venture Partners and Catamaran Ventures also participated.
Japan’s CyberAgent Ventures to open Korea office
Japan’s CyberAgent Ventures will open an office in South Korea next month. It will take the VC firm’s Asia presence to eight locations, complementing existing operations in Tokyo, Beijing, Shanghai, Shenzhen, Taipei, Ho Chi Minh and Hanoi.
India’s IvyCap Ventures in $19m first close for debut fund
Early-stage investor IvyCap Ventures has reached a first close of INR1.05 billion ($19 million) on its debut fund. The full target for IvyCap Ventures Trust Fund I is INR2 billion.
Carlyle exits Sinorgchem to China’s Sinochem
The Carlyle Group has exited its holding in rubber additives producer Jiangsu Sinorgchem Technology through a trade sale to Sinochem International, the overseas arm of the Chinese state-owned chemicals company. This is one of a series of transactions...
BlackRock to acquire Swiss Re Private Equity Partners
BlackRock is buying Swiss Re Private Equity Partners (SRPEP), the European private equity and infrastructure fund-of-funds arm of Swiss Re. The transaction will allow BlackRock’s existing FoFs group – BlackRock Private Equity Partners - to extend...
CapitaMalls Asia raises $1b for China Development Fund III
CapitaMalls Asia, the shopping malls arm of Temasek-owned CapitaLand, has announced the establishment of its China Development Fund III with a fund size of $1 billion. The vehicle, with a fund life of eight years, will invest in the development of shopping...
Australia's Hastings raises $626m for infrastructure fund
Hastings Funds Management announced that its Utilities Trust of Australia (UTA) has reached a first close on its infrastructure fund with commitments of A$610 million ($626 million). The amount is in line with expectations outlined in January 2012 and...
Beijing creates PE secondaries exchange
China has set up an exchange intended to make it easier for investors to trade their holdings in equity investment funds. Launched on Thursday, the China PE Secondary Market Development Alliance will theoretically facilitate exits from positions in illiquid...
Groupon’s China business to merge with Tencent
Group-buying website Groupon is merging its China operations, known as Gaopeng, with a similar site owned by domestic internet company Tencent Holdings. Gaopeng was created in late 2010 as a joint venture between Groupon and Tencent. The Tencent Collaboration...
General Mobile gets $5m from Singtel Innov8, Mitsui
SingTel Innov8 and Japan’s Mitsui & Co. have led a $5 million round of funding for General Mobile, a company that provides mobile internet services to customers in emerging markets. Existing investors in General Mobile include Taiwan-based MediaTek,...