Advisory
Cooley adds fund formation lawyer to Shanghai office
Pang Lee has joined law firm Cooley as a partner in its Shanghai office. He previously was counsel in the asset management group of Shearman & Sterling's Hong Kong office.
Global secondaries deal flow set to break record - Cogent
Global secondary transaction volume for 2014 is on course to break $30 billion for the first time after reaching $16 billion in the six months of 2014, according to secondary market-focused investment bank Cogent Partners.
Ark Alternative hires Shunichi Umino to head LP relations
Japanese placement agent Ark Totan Alternative has hired Shunishi Umino as its head of financial institution sales.
Bain sues Big Four auditor over India kidswear deal
Bain Capital is taking legal action against EY – formerly Ernst & Young – in a US court, alleging that its now worthless investment in India’s Lilliput Kidswear was made on the basis of false financial statements that the accounting firm had audited....
US regulation: Shot across the bow
Private equity has been put on notice by the US regulators - an alarming notion, yet one that was sufficiently well signposted that GPs could see it coming. How keenly will the rumblings be felt in Asia?
Private equity platforms: Matchmakers
Several online platforms have been launched with a remit to make exchanges between GPs and LPs more transparent and convenient. Do they complement existing processes or is fundraising set for reinvention?
TRG's Kaji moves to consultancy Accordion
Suneel Kaji has left The Rohatyn Group (TRG), where he was involved in private equity and special situations credit investments in US and the Pacific Rim, to become a managing director at Accordion, a US-headquartered consultancy.
BlackRock names new Asia head
BlackRock has appointed Ryan Stork as head of Asia Pacific operations, replacing Mark McCombe who will relocate to the US to become the company’s global head of institutional client business and chairman of the alternative investment division.
Fund administrator Augentius hires Asia head
Augentius has appointed Alex Traub as managing director of its Singapore office from where he will manage the fund administrator’s existing client relationships in Asia and take the lead in business development.
Placement agent Monument Group opens in Hong Kong
Monument Group, a Boston-headquartered placement agent with a presence in the US and UK, has expanded into Asia, with a Hong Kong office now in operation. A Tokyo base will follow later this year.
Eaton Partners hires Jackson Chan for Asia distribution
Placement agent Eaton Partners has hired Jackson Chan, previously head of business development for Hamilton Lane in Asia. He will work on distribution of liquid and illiquid alternative assets offerings throughout the region and also assist in origination....
India due diligence: Smoke and mirrors
A number of accounting scandals involving India-based private equity portfolio companies has contributed to the erosion of investor confidence in the country. Due diligence processes are being tightened in response
Alvarez & Marsal promotes Utamsingh to India co-head
Global professional services firm Alvarez & Marsal (A&M) has named Vikram Utamsingh, managing director responsible for its India transactions advisory group, as country co-head.
Singapore vs. Hong Kong: Shifting sands
Fund administrators are seeing increased demand from GPs for back office services in Singapore. Hong Kong isn’t the definitive loser, but the territory’s lack of tax and regulatory certainty for PE is a factor
Accelerated Venture Partners opens in Hong Kong
Accelerated Venture Partners (AVP), a Silicon Valley-based private equity firm, has opened an office in Hong Kong to provide Asian companies with financing and help them go public in the US.
Held to account: The Big Four in China
A legal ruling might ban the Big Four accounting firms’ China affiliates from working on US-listed Chinese companies. VCs aren’t worried about IPO prospects, but there are longer-term concerns
Fund admin: In house or out?
Asian private equity is becoming institutionalized, with increasingly sophisticated and international LPs asking GPs to bulk up their back office capabilities. Third-party administrators sense an opportunity
State Street opens Shanghai office
State Street has opened an office in Shanghai to provide fund administration, accounting and related services to private equity, real estate and hedge fund clients with business development initiatives in China.
Weil hires Asia fund formation lawyer from Kirkland & Ellis
International law firm Weil has appointed Albert Cho as a partner in its private funds group in Hong Kong. He joins from Kirkland & Ellis, where he served as a partner in both the New York and Hong Kong offices.
Kroll in tie-up with India's BMR
Global advisory firm Kroll has formed an alliance with India's BMR Advisors to offer investigative and due diligence services in the country.
BNRI agrees tie-up with China resources advisory firm
Barclays’ global resources-focused PE platform, Barclays Natural Resource Investments (BNRI), has formed a strategic partnership with Beijing-based corporate advisory firm Ilex Partners to develop its business in mainland China.
China due diligence: Playing it safe
The catalogue of deals gone bad in China is long and undistinguished. Private equity firms, and the third-party advisors that work with them, are rethinking their approach to due diligence
PE sees shift in due diligence focus to management - AVCJ Forum
Private equity advisory firms are placing greater emphasis on management integrity as they seek to refine the due diligence process for portfolio companies, say industry participants.
Blackpeak adds to Japan team
Blackpeak Group, an Asia-focused strategic advisor to corporate and investment clients, has appointed Kohtaro Miyagi as a senior consultant, based in Tokyo.