Fundraising
GGV reaches $622m final close on Fund V - Update
GGV has confirmed the final close of its fifth Sino-US venture capital fund. The firm said it had raised $620 million, although regulatory filings indicate the final total is $621.9 million.
Alibaba commits $100m to Yunfeng's China tech fund
Alibaba Group has committed $100 million to a fund being raised by Yunfeng Capital, a PE firm set up by Alibaba founder Jack Ma.
Aion reaches $825m final close on India distress fund
India's Aion Capital Partners - a joint venture formed by Apollo Global Management and ICICI Venture - has reached an $825 million final close on its maiden special situations fund.
Emerald Hill raises $400m for third Asia fund-of-funds
Emerald Hill Capital Partners has reached a final close of $400 million for its third Asian fund-of-funds. Endowments and foundations account for the vast majority of LPs, with about 75% of investors in Fund II re-upping for Fund III.
LP interview: China Reinsurance
Three years after setting up an alternatives team, China Reinsurance became the first local insurer to back an overseas GP. John Qu, vice general manager of assets management, outlines the firm's strategy
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?
ADB commits $60m to OrbiMed's second Asia fund
The Asian Development Bank (ADB) is to commit up to $60 million to Orbimed Advisors' second Asian healthcare fund - OrbiMed Asia Partners II.
India’s Multiples targets $500m for Fund II
Multiples Alternate Asset Management, the private equity firm set up by Renuka Ramnath after departing ICICI Venture, is said to be targeting around $500 million for its second India-focused fund.
China’s Harvest Capital closes second offshore fund at $300m
Harvest Capital, formerly Sino-Can Harvest Capital (SCHC), has closed its second US dollar-denominated fund – Great China Motivation Fund Phrase I – at $300 million.
Placement agents: Tapping tomorrow's investors
Asian LPs are a small but increasingly conspicuous part of the global institutional investor community. How can placement agents nurture pockets of growth in a potentially lucrative yet hugely imbalanced market?
Kunming Pharma, Ping An PE launch healthcare M&A fund
Shanghai-listed Kunming Pharmaceutical Corp. has partnered with a direct investment arm of Ping An Securities to set up a healthcare-focused M&A fund, with a target of RMB500 million ($80 million).
NYSTRS confirms $100m commitment to CVC Asia fund
New York State Teachers’ Retirement System (NYSTRS) has confirmed a $100 million commitment to CVC Capital Partners’ fourth Asia buyout fund.
CDH eyes summer close for recalibrated VC fund
CDH Investments is targeting a $150 million final close on its third China venture capital fund, having suspended marketing for a year following a decision to cut back the investment remit and vehicle size.
Zephyr targets $60m Sri Lanka fund
Global emerging markets investor Zephyr Management is looking to raise up to $60 million for a Sri Lanka-focused private equity fund.
China’s JD Capital approved to trade on OTC board
JD Capital, formerly Jiuding Capital, has won regulatory approval to list on China’s over-the-counter (OTC) board.
Australia’s PEP reaches $1b first close on Fund V
Pacific Equity Partners (PEP) has reached a first close of just under A$1.1 billion ($1 billion) on its fifth fund. The Australian GP is targeting A$2 billion in core equity, which will be supplemented by co-investment from a handful of sophisticated...
Ardian raises largest ever global secondaries fund
Ardian, known as Axa Private Equity until it spun out last year, has raised $9 billion for its latest global secondaries fund.
Singapore government backs six local VC funds
The Singapore government has committed S$10 million ($7.9 million) apiece to funds run by Jungle Ventures, Golden Gate Ventures, SBI Ven Capital, Walden International, New Asia Investments and Monk’s Hill Ventures.
Matrix closes third China VC fund at $350m
Matrix Partners has reached a final close of $350 million on its third China-focused fund. It follows a strong first quarter for China venture capital fundraising.
Asia PE fundraising slows to $6.6b in first quarter
Asia private equity fundraising came to $6.6 billion in the first quarter of 2014, according to provisional data released by AVCJ Research, down from $9.7 billion in the final three months of 2013.
Sailing, Yingli form $161m China solar fund
Shanghai Sailing Capital Management is teaming up with Yingli Green Energy Holding to form a solar energy-focused fund with an initial size of RMB1 billion ($161 million).
China’s LeTV launches $160m internet fund
LeTV.com, a Shenzhen-listed online video portal, is seeking to raise up to RMB1 billion ($161 million) for an internet and technology-focused private equity fund .
Vision Knight’s institutional upgrade
A mark of a successful first fund is increasing interest from institutional investors in its successor.
Q&A: China Everbright's Shuang Chen
Hong Kong-listed China Everbright is transforming itself from a brokerage into a multi-platform asset manager. CEO Shuang Chen explains how this will work and the role private equity is expected to play.