Funds
SingTel's Innov8 leads Series A investment in Dealised
Singapore-based group buying start-up Dealised has received $5.35 million in a Series A funding round led by SingTel Group’s corporate venture fund SingTel Innov8. The financing tranche also includes Australian-based venture investor Yuuwa Capital.
IDG invests in Hong Kong's App Annie
IDG Capital Partners has participated in the first round of private equity financing round for App Annie, a Hong Kong-based analytics and marketing intelligence provider. The size of the investment has not been revealed.
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
Korean financial plays are not for foreigners
The Woori and Mirae Asset Life Insurance deals are cause for hope, but foreign PE may still find life difficult
Corporates lead India VC into the light
Early-stage funding has been hard to come by in India. Corporate funds plugged the gap but competition is now rising as venture capital matures
In the market for Asia financials
Robert Morse quit his role CEO of Citigroup’s Asia Institutional Clients Group in 2008 to become managing director, chairman and co-CEO of Primus Financial Holdings. He discusses the perks and pitfalls of investing in the financial sector.
CMIA seeks to work with China’s farmers
Investment in China's agricultural sector is not easy. While the central government is keen on reform and consolidation – with a long-term view to leveraging the economies of scale that characterize farming in the West – progress is held back by land...
TPG hires Bain Capital's MD for its China team
TPG Capital has recruited Jingsheng Huang, a Shanghai-based managing director at Bain Capital, as it looks to boost its China expertise. He is expected to start his new role in late August, Reuters reported.
PAI sells Kwik Fit to Japanese conglomerate Itochu
French private equity firm PAI Partners has completed the sale of UK auto parts dealer Kwik Fit to Japanese trading conglomerate Itochu for £637million ($1 billion), which includes the acquisition of £457 million ($733 million) in debt.
Lone Star, Hana extend KEB talks to December
Lone Star will have to wait until December to sell its controlling stake in Korea Exchange Bank to South Korean financial conglomerate Hana Financial for $4.3 billion.
North American property funds dominate 2Q fundraising
North America property funds accounted for most of the $11.2 billion raised by private equity funds with a final close in the second quarter of 2011, according to research firm Preqin. Total commitments were up on the $8.9 billion raised in the first...
CDB to invest in MP Pacific Harbor Capital
China Development Bank (CDB) is poised to become a cornerstone investor in MP Pacific Harbor Capital, an Asian credit fund, as part of a wider initiative to take stakes in private equity and hedge funds.
Lexington closes largest-ever secondaries fund at $7b
Lexington Partners has closed its latest secondary fund at $7 billion, making it the largest-ever secondaries offering, Dow Jones reported, citing people familiar with the situation. The fund includes separate accounts – including one held by China...
CMIA's $200m fund to focus on China agribusiness, healthcare
CMIA Capital Partners has launched its fourth growth capital fund, worth $200 million, which will primarily seek out opportunities in China, notably in the agricultural sector.
Vogo, Tstobe, MBK participate in South Korea's Woori auction
Three South Korean private equity funds, Vogo Fund, Tstone and MBK Partners, have emerged as potential bidders to purchase the government's 57% controlling stake in Woori Financial Holdings, worth an estimated $6 billion .
AgBank launches $2.3b private equity fund in Wuxi
Agricultural Bank of China and the Wuxi city government have launched a RMB15 billion ($2.3 billion) private equity fund. The AgBank (Wuxi) Private Equity Fund will receive an initial capital injection of RMB5 billion ($773 million).
NSSF reaches out to private equity firms
The National Council for Social Security Fund (NSSF), China’s state pension fund and best-known LP, is reaching out to private equity firms as it seeks to ramp up investments. It recently signed an agreement with one PE firm, is conducting due diligence...
JAIC to set up fund joint venture in Tianjian
Japan Asia Investment (JAIC) has set up a joint venture investment management company in Tianjin, according to one of its partners. A spokesman for the Tianjin Eco-City Management Committee said it was participating in the company alongside China Binhai...
Illinois pension fund earmarks $7b for private equity
The Teachers’ Retirement Board of the State of Illinois has won approval from its board of trustees for a plan that could see it invest up to $7 billion in private equity by 2016. The $37 billion fund wants to commit $900 million to $1.4 billion to...
Unilever to start India venture capital fund
Unilever will set up a venture capital fund to invest in India based on the Unilever Corporate Ventures model that already operates in North America and Europe. A spokesperson for the company said that it wanted to seek opportunities in emerging markets,...
Warburg Pincus considers new fund
Warburg Pincus is preparing to raise a new buyout fund that could be worth $12 billion, Bloomberg reported, citing two people familiar with the situation. The New York-based private equity firm, which has invested more than 80% of its current $15 billion...
JPMorgan PE unit teams up with Beijing Capital Group
JPMorgan’s global private equity investment arm, One Equity Partners (OEP), has teamed up with local conglomerate Beijing Capital Group to identify investment opportunities. OEP plans to invest $200 million in China over the next to two to three years...
Two more PE firms win QFLP approval in Shanghai
SB China Venture Capital and Shanghai Guosheng CLSA Venture Capital have won approval from the Shanghai government to participate in the Qualified Foreign Limited Partners (QFLP) initiative. They join The Carlyle Group, Blackstone and DT Capital Partners,...
Bain launches second Asia fund, remains focused on Japan
Bain Capital launched its second Asia fund on Tuesday, with Japan remaining the key focus despite the economic fallout from the earthquake, tsunami and subsequent nuclear crisis. However, deals will also be sourced in China and India.