Fundraising
1Q analysis: Big fish, small fish
Country fund stars, China VCs make their mark on fundraising; the trade sale spike won't be sustained and the IPO surge may falter too; South Korean buyouts continue to create headlines
Pomona raises $1.75b for global secondaries fund
Pomona Capital has reached a final close on its eighth global secondaries fund at the $1.75 billion hard cap. The vehicle, which had a target of $1.3 billion, was substantially oversubscribed.
Japan set for first Sharia-focused PE fund
Tokyo-based technology investor Inspire Corp. has partnered with Malaysian asset manager Permodalan Nasional to form Japan's first Sharia-compliant PE fund targeting Malaysian businesses.
HarbourVest in $1b final close on co-investment fund
HarbourVest Partners has raised $1 billion for its latest global direct co-investment fund. The vehicle was oversubscribed, beating its $750 million target.
Jafco reaches $260m final close on fifth global VC fund
Jafco Ventures has reached a final close on its latest global fund at $260 million for its latest global fund. The vehicle, which was originally targeting $250 million, is the largest the firm has ever raised.
Zhongnan Heavy, ZEG Capital launch China media fund
Jiangyin Zhongnan Heavy Industries, a Chinese steel equipment manufacturer, and ZEG Capital, an investment arm of China Zhongzhi Enterprise Group, want to raise up to RMB3 billion ($483 million) for a media-focused buyout fund.
Vision Knight closes second China fund at $550m
Vision Knight Capital, a PE firm co-founded by former Alibaba.com CEO David Wei, has reached a final close on its second fund at the hard cap of $550 million.
Temasek opens up PE portfolio to outside investors
Temasek Holdings has launched a co-investment vehicle, allowing six outside institutional investors exposure to its PE funds portfolio. It is part of a broader effort to include new investors that will ultimately involve retail participation.
Siguler Guff closes third BRIC fund
Siguler Guff faced two particular challenges when raising its third BRIC opportunities fund: one foreseen and well prepared for; the other more out of leftfield.
Cathay forges Sino-French ties
It is 50 years since France became one of the first European countries to officially recognize the People’s Republic of China. The anniversary of that event was marked in Paris last month by Chinese President Xi Jinping and his French counterpart Francois...
India's Avendus, Zodius launch $500m tech fund
Indian financial services company Avendus Capital has partnered with PE firm Zodius Capital to launch a $500 million fund targeting technology companies.
India Infoline buys majority stake in PE firm India Alternatives
IIFL Wealth Management, a listed unit of India Infoline (IIFL) Group which is in turn backed by The Carlyle Group, has acquired a majority stake in PE firm India Alternatives Investment Advisors.
BVCF raises $200m for third China life sciences fund
BVCF, a China life sciences-focused PE firm, has reached a final close of $200 million on its third fund.
Baring Asia targets $3b for Fund VI
Baring Private Equity Asia will seek to raise around $3 billion for its sixth pan-regional fund, its largest vehicle to date.
Intel Capital plans $100m China smart device fund
Intel Capital, the venture capital unit of chipmaker Intel, has launched a $100 million China fund to help accelerate the growth of smart devices.
Templeton to raise $100m India PE fund
Franklin Templeton is looking to raise up to INR6 billion ($100 million) for its second India-focused private equity fund.
Siguler Guff closes BRIC fund at $650m
Siguler Guff has raised around $650 million for its third BRIC opportunities fund. The total includes three separate accounts for large institutions.
Hopu supports $1.5b Noble Agri deal, reaches first close on Fund II
A consortium led by Hopu Investments will take a minority position in an agribusiness joint venture being set up by Chinese agricultural conglomerate COFCO Corporation and Noble Group, an agriculture and energy supply chain manager.
IFC to support Brummer’s second Bangladesh fund
International Finance Corporation (IFC) plans to invest up to $20 million in Frontier Bangladesh II, a $100 million fund being raised by Swedish alternative asset manager Brummer & Partners.
A Capital targets $1.38b for Sino-European tech fund
Sino-European PE firm A Capital has launched a EUR1 billion ($1.38 billion) technology fund to invest in European innovative firms. It will help them expand into emerging markets, in particular China.
China gaming firm Ourpalm commits $16m to Huatai M&A fund
Ourpalm, a Shenzhen-listed mobile games developer, has committed RMB100 million ($16 million) to Beijing Huatia Ruilian M&A Fund, a new investment vehicle managed by Huatai United Securities, an investment banking arm of Huatai Securities.
Cathay Capital launches $687m Sino-French Fund
Cathay Capital, a Sino-French private equity firm, has launched a EUR500 million ($687 million) fund to promote the international expansion of French and Chinese companies in the mid-cap segment.
The soft middle
What has become of the mid-market GP in Asia? If there is one area of the fundraising landscape that has hollowed out in the last year or so, this is it, giving credence to the notion of bifurcation.
GVFL eyes $1b fund for Japanese ventures in India
Indian private equity investor Gujarat Venture Finance Limited (GVFL) will launch a $1 billion fund targeting Japanese enterprises in Gujarat - its largest vehicle to date.