Fundraising
DRC Capital launches Fund III, holds $25m first close
Japanese mid-market buyout shop DRC Capital has launched its third buyout fund - Japanese Limited Partnership DRC III - quickly followed by an initial close of JPY2.5 billion ($25 million).
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.
ADB, Orix, Robeco form $400m Asia climate-change fund
The Asian Development Bank (ADB), Japan's ORIX Corp. and Netherland-based Robeco Institutional Asset Management have together formed a private equity fund that will focus on investments in climate-friendly industries such as cleantech and renewable energy.
CLSA wins Korea outbound mandate
Nexen Tire Corp. posted net sales of KRW1.73 trillion ($1.7 billion) in 2013 and is responsible for 20% of tire sales in South Korea, the fifth-largest market globally both for auto production and auto exports. The company has an established global presence...
Ex-KKR Asia fundraiser joins Neuberger Berman as advisor
Clifford Chiu, who stepped down from his fundraising role at KKR earlier this year, has become a senior advisor to Neuberger Berman Asia. He will help build the investment manager’s client base across the region.
Apis Partners to launch Asia, Africa fintech fund
Newly-created private equity firm Apis Partners has launched its first growth capital fund targeting financial technology (fintech) investments in Asia and Africa.
Inflexion Point launches $15m Japan-focused game fund
Singapore venture capital firm Inflexion Point Capital (IPC), has launched a $15 million fund to focus on investments in Japan's mobile gaming start-ups.
Qualcomm commits $150m to invest in Chinese start-ups
Qualcomm has launched a $150 million strategic venture fund to invest in Chinese start-ups in the mobile technology space.
Taiwan’s Cathay Life commits $20m to Vista tech fund
Taiwan’s Cathay Life Insurance has committed $20 million to US technology-focused private equity firm Vista Equity Partners’ latest flagship fund - Vista Equity Partners Fund V.
China's JD Capital launches medical, energy funds
JD Capital has launched three renminbi-denominated funds to invest in the medical and energy sectors.
Shunfeng commits $74m in Japan power project PE fund
Hong Kong-listed solar cell manufacturer Shunfeng Photovoltaic International has commited JPY7.5 billion ($74 million) to an unnamed Japanese solar power-focused fund.
CLSA, Korean corporate launch $295m global co-invest fund
CLSA Capital Partners (CLSACP) launched a KRW300 billion ($295 million) global co-investment fund in partnership with South Korean tire manufacturer Nexen. The primary LP is the National Pension Service of Korea (NPS).
Taiwan’s Fubon Financial backs Fosun outbound fund
Fubon Financial, parent of Taiwan’s second-largest life insurance firm, has committed $20 million to Fosun International’s outbound China Momentum Fund.
Northstar reaches $500m first close on Southeast Asia fund
Southeast Asia-focused GP Northstar Group has reached a first close of approximately $500 million on its fourth fund.
MSPEA rides out Volcker impact
For most Asia-focused GPs that were once captive units of investment banks, the shadow of their former parent has long since faded. Restrictions on financial institutions as LPs is a problem, but they are already accustomed to life without balance sheet...
Q2 analysis: Still open for business
The IPO window remains open, especially in Australia; VCs continue to dominate China fundraising, but probably not for much longer; the Philippines stakes its claim as Southeast Asia’s emerging PE star.
IFC targets up to $1b for emerging markets fund-of-funds
International Finance Corporation (IFC) wants to raise a $750 million to $1 billion for an emerging markets-focused fund-of-funds with a final close pegged for the end of this year or early 2015.
Noble Group, EIG form energy joint venture
Private equity firm EIG Global Energy Partners has teamed up with Asia-based agriculture and energy supply chain manager Noble Group to acquire and operate upstream and mid-stream energy assets.
PE consortium targets $1.5b China outbound fund
A consortium of foreign and Chinese PE firms has launched a $1.5 billion fund, which aims to raise a combination of US dollars and Chinese currency to invest abroad.
Chinese stationery firm launches PE fund
Shenzhen Comix Stationery, a Shenzhen-listed stationery manufacturer, has won approval to launch a PE fund, which will be managed by Hejun Consulting.
India announces $1.6b fund to support start-ups
The Indian government has pledged to support local start-ups by launching a INR100 billion ($1.6 billion) fund-of-funds.
New Australian crowd-funding platform set for launch
A new equity crowdfunding platform called Equitise is being launched in Australia.
Morgan Stanley PE Asia closes Fund IV at $1.7b
Morgan Stanley Private Equity Asia (MSPEA) has closed its fourth Asian fund at approximately $1.7 billion. The vehicle launched in mid-2012 with a target of $1.5 billion and reached a first close later that year of around $750 million.
NewQuest closes Fund II, prepares for hydropower take-private
NewQuest Capital Partners has reached a final close of $316 million on its second pan-Asia fund, exceeding the $300 million target. The announcement comes as the secondaries specialist is poised to take private US-listed China Hydroelectric in a deal...