Fundraising
Hong Kong-listed A8 commits to tech-focused Qingsong Fund
A8 Digital Music Holdings, a Hong Kong-listed media corporation, has committed RMB20 million ($3 million) to acquire an approximately 6% interest in Qingsong Fund II.
CICC, Qianhai Financial Holdings launch $3.3b PE fund
China International Capital Corporation (CICC) has teamed up with Qianhai Financial Holdings, a wholly-owned unit of the Administrative Bureau of Qianhai, to launch a private equity fund, targeting RMB20 billion ($3.3 billion).
Japan's Venture United raises $11m fund
Venture United - the corporate investment arm of Japanese media group United - has raised a new JPY1.26 billion yen ($11 million) fund focusing on internet-related start-ups.
Partners Group, Mizuho target Japanese pension funds
Partners Group has reached a deal with Mizuho Financial Group (MFG) to jointly develop and distribute global private equity and infrastructure products to Japanese pension schemes.
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.
A new constituency
As one GP now puts it, sovereign wealth funds "are now the 1,000-pound gorilla in the room."
Everstone-Realterm JV closes second IndoSpace Logistics fund at $330m
Indian industrial real estate and warehousing facilities developer IndoSpace, has closed its second fund at $330 million, exceeding its target size at $300 million. IndoSpace is a joint venture between the Everstone Group and Canada-based Realterm Global.
EQT reaches $1.4b close on mid-market fund
EQT Partners has reached a final close of EUR1.1 billion ($1.48 billion) on its EQT Mid Market fund, which will focus on middle market buyouts and growth equity investments in Greater China, Southeast Asia and Northern Europe.
China's WestSummit raises $325m across two tech funds
Beijing-based growth capital firm WestSummit Capital has raised $325 million across two funds, comprising $225 million for West Summit’s Fund II and $100 million for its China Ireland Technology Growth Capital Fund.
Inventus closes Fund II at $106m
Inventus Capital Partners has reached a final close on its second fund at $106 million, exceeding the $100 million target.
Asia, Middle East LPs help Affinity to $3.8b close on Fund IV
Affinity Equity Partners has reached a final close of $3.8 billion on its fourth pan-Asian fund, with investors from Asia and the Middle East accounting for a larger share of the corpus than their North American counterparts.
Boyu reaches $1.5b target for second China fund – report
Boyu Capital has reportedly raised $1.5 billion for its second China-focused fund. A final close is expected within a few weeks.
Mayfield raises at least $86m for India fund
Mayfield has raised at least $86 million for its second India fund, which was launched a year ago.
KKR fundraiser Clifford Chiu to retire
Clifford Chiu, a leading figure in KKR’s Asia fundraising efforts, will retire in June after seven years with the firm. He will return with his family to the US.
Portfolio Advisors closes global secondaries fund at $910m
Portfolio Advisors has closed its second dedicated global private equity secondaries fund at $910 million. The vehicle launched in 2011 and began investing in the third quarter of 2012, focusing on direct secondary fund interests.
India’s ASK Group reaches first close on offshore real estate fund
ASK Group has reached a first close of $50 million on its debut offshore real estate fund. The full target for the vehicle, which will invest in middle income residential projects in Mumbai, Bangalore, the Delhi National Capital Region (NCR), Pune and...
India Awards: Fundraising of the Year – Kedaara Capital
In India's challenging fundraising environment, GPs – especially first-time fund managers – should expect the marketing process to be difficult and protracted. In 2013, LPs committed just $2.2 billion to domestic managers, down from $2.4 billion the...
4Q analysis: IPO awakening
Public market offerings return, or at least expectations of them; pan-regional players shore up weak fundraising market; growth deals to the fore as buyouts recede
Big brother: Japan's government LPs
The government is becoming an increasingly significant LP in Japanese private equity funds. Smaller GPs can’t live without it but there are wider concerns about sustainability and long-term economic impact
Canara Bank targets $81m for sixth India VC fund
Canbank Venture, a subsidiary of India’s Canara Bank, plans to start fundraising in April for its sixth VC fund, with a target of INR5 billion ($81.6 million).
Japan and India to launch joint investment fund
Japan and India are to launch a joint investment fund to help finance Japanese companies operating in India.
Apollo holds $18.4b final close on global Fund VIII
Apollo Global Management has held a final close on its flagship global fund - Apollo Investment Fund VIII - at $18.4 billion, the largest of its kind since the global financial crisis.
Indiareit raises $160m domestic property fund
Piramal Enterprises’ Indiareit Fund Advisors has reached a final close of INR10 billion ($160.5 million) on its fifth domestic fund.
OCBC launches $100m QFLP fund in Shanghai
OCBC Bank has launched a $100 million private equity fund under the Shanghai Qualified Foreign Limited Partner (QFLP) pilot program. The vehicle should make it easier for Singaporean lender to invest in domestic Chinese companies as it aims to develop...