Industry
OTPP opens Mumbai office
Ontario Teachers’ Pension Plan (OTPP) has opened an office in Mumbai, adding India to an Asian footprint that currently includes bases in Hong Kong and Singapore.
LP interview: Partners Capital
Nearly a decade after establishing a foothold in Asia, Partners Capital has acquired a string of local clients and devised a distinct, middle market-oriented approach to deploying capital in the region
Fund focus: Tower goes large with debut fund
Tower Capital Asia is repositioning itself as a large, globally connected PE firm as it transitions from deal-by-deal investing to a fund structure. Deep roots in Singapore remain the nucleus of the strategy
Japan's Nomura launches blockchain VC unit
Japan’s Nomura Holdings has launched a business called Laser Venture Capital that will invest in companies in the blockchain and digital assets space.
HarbourVest opens Australia office
HarbourVest Partners has opened an office in Sydney on the back of claimed recent success in cultivating institutional and private wealth clients in Australia and New Zealand.
China semiconductor: Casualties of war
Private equity investment in China’s semiconductor industry continues unabated despite intensifying US regulatory action. While start-ups are not explicitly targeted, many are feeling the heat
Gobi raises $10m for Asia seed fund
Gobi Partners has closed a USD 10m Malaysia-focused seed fund with contributions from Allianz Malaysia, Malaysia Venture Capital Management (Mavcap) and Sunway Group.
Tower Capital closes maiden SE Asia PE fund on $379m
Singapore’s Tower Capital Asia, which has historically invested on a deal-by-deal basis, has closed its debut blind pool private equity fund for Southeast Asia on USD 379m.
C Ventures rebrands, hits first close on new fund
C Ventures, a VC firm set up by Adrian Cheng, scion of Hong Kong’s New World Development, has rebranded as C Capital – reflecting steps to diversify into a multi-strategy asset manager – and reached a first close on its latest fund.
Portfolio: Advantage Partners and Elise Fashion
Advantage Partners acquired Vietnamese women’s apparel retailer Elise Fashion with a view to integrating manufacturing, design, and distribution into a leaner operation with a more international profile
Fund focus: Glenwood gains traction with carve-out thesis
Korea-focused Glenwood Private Equity has closed its second fund on KRW 900m (USD 648m) from local LPs, having established itself as a mid-market corporate divestment specialist
Japanese LPs rue shorter fundraising cycles, currency depreciation - AVCJ Forum
Managers coming back to market more frequently and a depreciating yen are playing havoc with LP allocations to private equity, institutional investors told the AVCJ Japan Forum.
Australia's Telstra Ventures raises $336m for latest global fund
Australia’s Telstra Ventures has closed its third global fund on AUD 500m (USD 336m), beating a target of AUD 400m. Fund II closed on AUD 675m in 2018 and added a USD 50m sidecar the following year.
Secondaries specialist TR Capital expands into Singapore
Asia-focused secondaries investor TR Capital has opened an office in Singapore, expanding a regional footprint that already includes bases in Hong Kong, Shanghai, Shenzhen, and Mumbai.
China's HighLight hits first close on life sciences fund, targets $650m
HighLight Capital, a China-based life sciences investor, has completed a first close of USD 540m on its fourth US dollar-denominated fund. The overall target is USD 650m.
China looks to boost PE participation by domestic insurers
Chinese Premier Li Keqiang has asked regulators to encourage investment by insurance companies in private equity and venture capital through measures such as shorter post-IPO lock-up periods.
Billionaire Venture, DBS to invest $200m in India start-ups
India’s Billionaire Venture Capital and DBS Bank have agreed to invest USD 200m in 150m Indian start-ups via a special purpose vehicle and joint venture (JV).
Fund focus: Baring restocks its dry powder
Baring Private Equity Asia claims a pipeline full of USD 1bn-plus investment opportunities to meet the needs of an USD 11bn-plus fund – but for now it is being cautious about pursuing them
Deal focus: Anchorage exits rail player, launches Fund IV
Australia-based Anchorage Capital Partners has extended a string of exits with the sale of a local rail industry player, while going to market seeking AUD 500m (USD 339m) for its fourth fund
Profile: Crescendo’s Kevin Lee
Kevin Lee founded Crescendo Equity Partners to spot overlooked Korean technology suppliers and reposition them as global leaders of their niches. This required a rare combination of skills
Korea: A good time to be different?
Macroeconomic uncertainty and liquidity risk are pushing Korean private equity firms to think beyond buyouts, double down on operational capabilities, and consider all their exit options
Baring Asia hits final close on eighth pan-regional fund
Baring Private Equity Asia (BPEA), which agreed to merge with EQT earlier this year, has closed its eighth pan-regional fund with commitments of USD 11.2bn.
ADB makes LP commitment to KV Asia's second fund
Asian Development Bank (ADB) has confirmed an investment of USD 15m in the second Southeast Asia lower middle market private equity fund from KV Asia Capital.
Bessemer closes latest global VC fund on $3.85b
US-based Bessemer Venture Partners, which is currently expanding a longstanding presence in India, has closed its latest global VC fund with USD 3.85m in commitments.
