Funds
MBK sole bidder for KEB
Pan-Asian independent buyout fund MBK Partners was the only bidder to submit a formal letter of intent to purchase the 51.5% controlling stake in Korea Exchange Bank held by Lone Star Funds and valued at up to $4 billion, according to Korean press reports....
Japan, a Catch-22?
While Japan's estimated GDP growth sits at just 2.6%, China is forecasted to hit 9.6% growth in 2010.
Fortress closes first Japan fund at $800 million
Fortress Investment Group, the US distressed debt and alternative assets investment group, has closed its first Japan-focused distressed fund, the Fortress Japan Opportunity Domestic Fund, at JPY75 billion ($800 million), its target cap, according to...
Gupta joins Nexus as MD
Indian VC firm Nexus Venture Partners has announced the hire of Anup Gupta, hitherto Group COO at leading NYSE-listed BPO company WNS (Holdings) Ltd., as a Managing Director.
Shan joining Pacific Alliance as CEO
After earlier reports that he was going to form his own independent private equity firm, Weijian Shan, previously Managing Partner with TPG Capital in Hong Kong, is now going to join Pacific Alliance Group (PAG), the Hong Kong-headquartered private equity,...
JAFCO Asia, Mitsui, CEL invest Prudent Energy in China
PRC energy storage business Prudent Energy has announced that pan-Asian VC investor JAFCO Asia, Japanese VC firm Mitsui Ventures and European growth capital investor China Equity Links (CEL) Partners, as well as other investors, will invest a total of...
Kleiner China invites two new recruits
KPCB China, the China unit of Silicon Valley VC firm Kleiner Perkins, has hired Jonathan Wang and Wang Enqiang as venture partner and senior advisor, respectively.
Olympus hires Nomura's Katayama
Hong Kong-headquartered Olympus Capital Holdings Asia has appointed Shunji Katayama, 48, a former investment banker at Nomura Holdings Inc., as a Managing Director, based in Tokyo.
GSR hires tech vet Jia as partner
GSR Ventures, the Beijing-based venture capital firm, has hired Jack Jia, founder and Chairman of Baynote, Inc., a software innovator that develops recommendation and search technology, as a Partner.
CapAsia recruits 3i's Osborne, Pru's Martin
Fresh from its rebranding, infrastructure investor CapAsia, previously CIMB Standard Strategic Asset Advisors, has recruited two senior professionals, David Osborne, formerly Partner and head of the Asia buyout team at 3i Group, and Craig Martin, previously...
Walden gets happy returns from Korean games
Walden International has sold a 13% stake in its portfolio company Ndoors Corporation, a South Korean game software developer/publisher, to Nexon Corporation, a major strategic peer in the sector.
Coller Barometer shows slumping returns, soaring Asia
The latest edition of the Coller Capital Global Private Equity Barometer, polling 110 LPs worldwide, found respondents registering the full aftermath of the GFC, with the lifetime returns on their portfolios falling dramatically.
Results, however volatile, in China
According to the recent AVCJ Private Equity and Venture Capital Report China 2010, around $12.9 billion was invested into the PRC over 2009, accounting for just under 30% of all private equity investment in Asia, China’s highest total ever by market share....
SBI in new round for Quark Pharmaceuticals
Japan's SBI Holdings Group, the investment conglomerate behind the SoftBank family of funds, has made a further commitment of $10 million to investee company Quark Pharmaceuticals, a Californian developer of RNAi-based drugs.
Dream Incubator, ORIX launch Vietnam fund
Dream Incubator Inc., a Tokyo-based VC and advisory firm, and Japanese financial services group ORIX Corp.are forming a joint private equity vehicle focusing on the Vietnam market.
IDFC starts private equity real estate fund
Infrastructure Development Finance Company Ltd (IDFC), India’s leading infrastructure finance services firm, is to expand its alternative investment capabilities to operate a private equity real estate business, hiring a new senior executive to run the...
Kleiner, Sequoia, Walden-backed Auto Navi goes to NASDAQ
Sequoia Capital, Kleiner Perkins and Walden International investee AutoNavi Holdings Ltd., a provider of digital map content and navigation services in China, filed with US regulators on Wednesday to raise up to $100 million in an initial public offering...
Agnellis' Exor plans Asia private equity JV with Jardine, Rothschild
Exor SpA, the Italian industrial holding company controlled by the Agnelli family behind Fiat and other leading businesses, is planning a private equity joint venture with Jardine Matheson Holdings and private bank NM Rothschild & Sons, focusing primarily...
Blue Sky launches fund for Australian SMEs
Brisbane-based private equity firm Blue Sky Funds Management aims to raise A$50 million ($41.4 million) for a fund targeting investments into Australian SMEs.
Qiming launches RMB fund for biomedical investments
Chinese VC firm Qiming Venture Partners has launched an RMB250 million ($36.6 million) fund, focusing particularly on biomedical sector-related investments.
KEB auction cooling as ANZ commitment flags
The sale of Lone Star Funds' 51% stake in Korea Exchange Bank (KEB) appears to be losing momentum, as hitherto lead contender Australia and New Zealand Banking Group Ltd. has yet to submit a formal bid for the stake, which could fetch up to $4 billion....
CVC hires Lee in Seoul
CVC Capital Partners has announced the appointment of Randall Lee, previously MD at Eugene Asset Management and formerly director at Lone Star Advisors in Seoul, as MD with its Korea team.
S3 Redwood announces Chiang for MD
OTC-quoted S3 Investment Company, a US investment banking and financial advisory firm seeking to tap the PRC market, has announced the appointment of Richard Chiang as MD of its Redwood Asia Fund, a growth capital private equity fund targeting opportunities...
Caution: Lower returns ahead?
Recently, as astute readers will remember, the EMPEA/Coller Capital Emerging Markets Private Equity Survey showed great expectations among LPs in emerging markets private equity funds.