Financing
CVC considering SHK Finanicial sale
CVC Capital Partners-backed Sun Hung Kai & Co. is considering the sale of its brokerage and wealth management subsidiary SHK Financial, Bloomberg reported, citing sources who say the company has held informal discussions with potential buyers.
J.C Flowers considers joint bid with TStone for Woori
J.C. Flowers is in talks with TStone, the South Korean private equity firm, to join the bid for a 57% stake in Woori Financial Holdings that is being divested by the Korean government, Reuters reported.
Religare Capital acquires South African brokerage
Religare Capital Markets, the investment banking and institutional securities unit of India’s Religare Enterprises, has purchased a controlling stake in South African broker Noah Financial Innovation for an undisclosed price.
Warbug Pincus begins Kotak Mahindra divestment
Warburg Pincus has begun the divestment process of its more than 9% stake in Kotak Mahindra Bank, selling a nearly 2% stake in the open market in recent months with more to come, local media reports.
VantagePoint invests in MYFP Wealth Management
VantagePoint Capital Partners has invested an undisclosed sum in Beijing MYFP Wealth Management. This is MYFP's first institutional investment placement and VantagePoint’s first investment in China’s financial services sector.
Temasek eases exposure to Chinese banks
The timing of Temasek's sell-down of a partial stakes in Bank of China and China Construction Bank certainly raised eyebrows. Singapore’s second-largest sovereign wealth fund made its move hours after Moody’s warned that the scale of local government...
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
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.
Kotak Mahindra applies for Singapore office
India’s Kotak Mahindra Bank, whose parent has been an active private equity investor, is looking to open its first overseas branch, in Singapore.
RHB battle highlights PE challenges in Malaysia
As private equity in China and India becomes overcrowded, driving up valuations, some funds have broadened their regional focus. Malaysia has generated particular interest, but recent developments suggest that the pickings are likely to be small.
Auction for 25% RBH stake to move forward - report
Abu Dhabi Commercial Bank (ADCB) is reportedly set to move forward with its 25% stake sale in RHB Bank, despite news that two rival banks would launch acquisition bids for Malaysia’s fifth-largest lender. ADCB’s auction process is expected to attract...
KEB sale delayed again
Lone Star’s protracted effort to offload its 51% stake in Korea Exchange Bank (KEB) to Hana Financial Group has been delayed once gain, this time by six months, amid lingering regulatory questions.
Rabobank makes Indian PE investment
The India Agri-Business Fund (IABF), a private equity vehicle owned by Rabobank, has agreed to invest INR101.75 crore ($22.6 million) in National Collateral Management Services (NCMSL), alongside the International Finance Corporation (IFC) and four existing...
Malaysia's top banks target RHB
Weeks after Carlyle and TPG reportedly teamed to bid for a 25% stake in Malaysian lender RHB Capital, top Malay banks Maybank and CIMB are each looking to make an acquisition bid for the asset, potentially creating the largest banking institution in Southeast...
Tokyo Star goes back to Lone Star
LONE STAR FUNDS IS ONCE AGAIN TAKING ownership of Tokyo Star Bank, less than four years after selling the struggling commercial lender to private equity firm Advantage Partners (AP). Having failed to repay its debts, AP has reportedly agreed to give away...
TPG and CNinsure CEO makes MBO bid
TPG CAPITAL WILL PARTNER WITH THE CEO of CNinsure in an effort to takeover the NASDAQ-listed Chinese insurance intermediary, which is party owned by local fund CDH Holdings. The private equity firm and Yinan Hu has offered a bid that represent a 44% premium...
Lone Star to takeover Tokyo Star Bank from Advantage Partners
Lone Star, the US private equity firm specializing in the distressed investments, will reportedly take ownership of Tokyo Star bank from Tokyo-based private equity firm Advantage Partners (AP) and once again become the bank’s largest shareholder, owning...
TPG's Shriram Transport stake said to attract interest from Orix
Japanese financial services group Orix Corp. is the latest player to have reportedly set its sites on TPG’s share in Shriram Transport Finance Co. (STFC), touted as India’s largest commercial vehicle lender, in a sale that could bring in more than INR30...
CVC ramps up focus on Filipino finance
CVC CAPITAL PARTNERS HAS MADE ITS first investment in the Philippines in more than a decade, taking a 15% stake in Rizal Commercial Banking Corporation (RCBC) – the market’s fifth-largest financial player by assets with aspirations of elevating its brand...
PE funds to bid for 20% stake in Vietcombank
The Vietnamese government has put 20% stake in Vietcombank on the block, and private equity players are invited to bid for this estimated $500 million piece of asset.
Carlyle, TPG and Sumitomo Mitsui eye stake in Malaysian lender
Carlyle and TPG have reportedly teamed up to jointly bid for a 25% stake in Malaysia’s RHB Capital, and are said to face off against Japanese financial group Sumitomo Mitsui Banking Corporation to acquire the asset.
Private equity in China's insurance sector
The growth of the insurance sector in China has rocketed in recent years with the potential still remaining tremendous and private equity has been in the center of this rise. And it has been a profitable relationship for GPs that are able to take stakes...
Unitas completes landmark Hyva deal
Asian private equity firm Unitas Capital has completed the acquisition of Hyva Holdings B.V. from Europe’s 3i, for an enterprise value of EUR525 million ($761.5 million). The acquisition was partly financed through a high yield bond, marking the first...
CVC eyes Philippine bank stake - reports
CVC Asia Pacific is reportedly eyeing a stake acquisition in Filipino bank Rizal Commercial Banking Corp (RCBC), in line with the financial corporation’s aim to raise capital.