Fundraising
India’s Lighthouse makes $60m first close on Fund II, eyes early 2014 completion
Lighthouse Funds has reached a first close of approximately $60 million on its second India-focused fund. The GP is now targeting a final close of $125 million in the first quarter of 2014, but as a source familiar with situation told AVCJ, economic and...
Carlyle registers third Japan fund
The Carlyle Group has registered its third Japan buyout fund with the US Securities and Exchange Commission (SEC). Although initial reports put the target at $2 billion, sources told AVCJ in June that the GP was looking for around $1 billion.
INCJ invests $27m in Japan patent fund
Government-backed Innovation Network Corporation of Japan (INCJ) has invested JPY2.75 billion ($27.8 million) in a fund that will buy unused patents and license them to domestic start-ups.
Japan's ACA targets $100m for domestic IT fund
Japanese buyout firm Asian Capital Alliance (ACA) is targeting $100 million for a new fund focused on businesses in the domestic information and communications technology space.
Affinity reaches $2.5b second close on Fund IV
Affinity Equity Partners has reached a second close of $2.5 billion on its fourth Asia buyout fund. The private equity firm has been on the road for about nine months in what is a challenging fundraising market for Asian GPs, with just $17.3 billion raised...
DCM targets $250m for China VC fund
DCM is seeking $250 million for its latest China-focused fund. The target for Venture China Fund VII is less than the $400 million raised for DCM's previous vehicle, which invests in China, the US and Japan.
Creador set for $105m first close on Fund II
India and Southeast Asia-focused GP Creador is expected to reach a first close of $105 million on its second fund by mid to late August. The full target is $250 million.
Bright Stone targets $4.8b for China tourism fund
China Bright Stone Investment has partnered with the Guizhou provincial government to launch the country's first tourism-focused fund, targeting up to RMB30 billion ($4.8 billion). The vehicle – Wuling Mountains travel industry investment fund - will...
Rich man’s game: The cost of fundraising in Asia
Asian GPs and fund lawyers are struggling with a demand-supply imbalance. LPs are negotiating more and conceding less - but for all that managers say fundraising costs are going up, lawyers say fees are going down
IndiaVenture eyes $25m first close on healthcare fund
IndiaVenture Advisors (IVA), the PE arm of Indian healthcare company Piramal Enterprises, expects to reach a first close at around INR1.5 billion ($25 million) next month on IndiaVenture Trust Fund II, which has a full target of INR10 billion.
Asian GPs under pressure to return capital to investors – AVCJ Forum
Asian fund managers are under pressure to return capital to investors as patience wears thin with promises of returns to come, despite the regional growth story being far from over, industry participants told the AVCJ Singapore Forum. These sentiments...
J-Star reaches $205m final close in Fund II
Japanese mid-market buyout firm J-Star has reached at JPY20.4billion ($205 million) final close on its second buyout fund.
Q&A: KKR's Joe Bae
KKR last week announced a final close of $6 billion on its second pan-Asia fund, the largest vehicle of its kind ever raised in the region. Joseph Bae, KKR's head of Asia, tells AVCJ how it will be deployed
2Q analysis: China in the spotlight
All is not well for China PE investment with one big deal disguising a period of relative inactivity; China exits, on the other hand, are prospering; and Asia PE fundraising is, of course, struggling
Ant Global Partners' $150m secondary fund targets Greater China, Japan
Ant Global Partners (AGP) - the international investment arm of Japanese PE firm Ant Capital Partners - is targeting $150 million for a new secondary fund focused on Greater China and Japan.
Toho Bank, Yamada Business Consulting establish $10m VC fund
Japan's Fukushima-headquartered Toho Bank has established a JPY1 billion ($10 million) venture capital fund, along with Tokyo-based Yamada Business Consulting, to provide early-stage capital to Japanese businesses.
Kedaara raises at least $500m for debut India fund
Kedaara Capital, a private equity firm established by former Temasek India head Manish Kejriwal, is said to have raised $500 million for its debut fund. Another source indicated to AVCJ that Kedaara was on course for $550 million and might push on to...
Swedish asset manager backs $120m Philippines fund
Swedish alternative asset manager Brummer & Partners is backing a PHP5 billion ($120 million) Philippines-dedicated private equity vehicle known as the Navegar Fund.
HarbourVest raises $3.6b for global secondaries fund
HarbourVest Partners has reached a final close of $3.6 billion on its latest global secondaries fund, exceeding the $3 billion target, on the back of strong investor demand. The fund, Dover Street VIII, is also larger than its predecessor, which reached...
KKR raises largest-ever pan-Asia private equity fund
KKR has announced a final close of $6 billion on its second pan-Asian fund. Coming in 50% larger than its 2007 vintage predecessor, the fund is the largest regional private equity pool ever accumulated.
Apollo reaches $6.8b first close on global fund – report
Apollo Global Management has reportedly reached a first close of about $6.8 billion on its latest global fund. Apollo Investment Fund VIII set out with a target of $12 billion and has since introduced a hard cap of $15 billion.
Asia PE fundraising slumps to $13b in first half of 2013
Asia private equity fundraising came to $13.8 billion in the first half of the year, down 40% on the second half of 2012, according to provisional data from AVCJ Research. This is the lowest six-monthly total since January-June 2009. PE investment reached...
NZ Super allocates $31m to Pioneer Capital
The New Zealand Superannuation Fund has committed NZ$40 million ($31 million) to the second fund of Auckland-based private equity firm Pioneer Capital Partners.
Asia PE: Taking the temperature
AVCJ assembled a group of private equity industry leaders to share their views on the prospects for exits in Asia, changing expectations and approaches to China, and how to address LP interest in co-investment