Fundraising
Australian GPs see strong investment climate, challenges for exits
Australia’s private equity investment environment is at its strongest in five years but this is tempered by managers facing more challenges selling portfolio companies, according to Anthony Kerwick, managing director at Pacific Equity Partners (PEP).
Investors flock to CRC’s debut RMB fund
Renminbi fundraising weakened considerably over the course of 2012. Preliminary AVCJ figures showing that barely 20 vehicles attracted a total of $4.2 billion in the second half of the year, less than one third the amount raised in the previous six months.
LGT closes third global secondaries fund at $2b
LGT Capital Partners has reached a final close on its third global secondaries fund, Crown Global Secondaries III (CGS III), at $2 billion.
Virginia pension fund backs Fortress’ Japan distress vehicle
Virginia Retirement System (VRS) has committed to $50 million to Fortress Investment Group’s Japan Opportunity Fund II, a distress-focused vehicle that closed last December at its hard cap of JPY130 billion ($1.65 billion).
Four in five Asian investors plan real estate fund commitments - survey
Four in five Asian-based investors are expected to invest in private real estate funds in 2013 compared to around 48% and 39% of investors based in North America and Europe respectively, according to new report.
SEBI approves first Indian social venture fund
The Incube Connect Fund has become the first social venture fund to be approved under the Securities and Exchange Board of India’s (SEBI) new registration regulations.
Brookfield hires Niel Thassim as Head of Asia
Brookfield Asset Management has hired Niel Thassim as head of Asia with its Hong Kong-based private funds group.
Deutsche Bank raises $614m for global secondaries fund
Deutsche Bank has reached a final close of $614 million on its second global secondaries fund. The vehicle exceeded its target of $500 million, with commitments coming from insurance companies, public and corporate pension plans and family offices.
Macquarie targets $1b fund for South, Southeast Asia - report
Macquarie Capital is said to be targeting $1.1 billion for its new fund focusing on South and Southeast Asia.
China Resources Capital raises $153m for debut RMB fund
China Resources Capital (CRC) has raised RMB956 million ($153 million) for its debut local currency fund. The vehicle has also announced its first deal – a co-investment with mainland property developer China Vanke in a Shanghai residential project.
Lightspeed nets $168m for China fund
Lightspeed Venture Partners' China fund has been more than seven years in the making, having been under consideration ever since the GP included an international allocation – Asia and Israel, in addition to the US – in its seventh global vehicle....
Q&A: Tata Opportunities Fund's Mukund Rajan
India’s private equity industry has suffered criticism from disappointed LPs in the last couple of years. Mukund Rajan, managing partner of Tata Opportunities Fund, identifies a few positives
Emerging markets share of PE fundraising reaches record high - EMPEA
Emerging markets-focused private equity funds received their largest ever share of global commitments to the asset class last year, according to the Emerging Markets Private Equity Association (EMPEA).
IDG Ventures targets $175m for second India fund
IDG Ventures India is targeting $175 million for its second India-focused fund. The predecessor vehicle raised $150 million in 2007.
Japan's Orix signs up as LP for Mongolia Opportunities Fund
Japan's Orix Corporation will invest in Mongolia Opportunities Fund I, reputedly the country's first ever private equity vehicle. Orix aims to use the fund, established by Mongolia Opportunities Partners, to make its own first investments in country.
RRJ Capital raises $3.5b for Fund II – report
RRJ Capital has reportedly raised $3.5 billion for its second fund. The Hong Kong-based GP, which was set up by Richard Ong, formerly of Goldman Sachs and Hopu Investment Management, originally targeted up to $5 billion for the vehicle.
Australia’s Adventure Capital targets $100m VC fund
Australian VC firm Adventure Capital is targeting around $100 million for its debut vehicle. It has already received $20 million in commitments from high net worth individuals – having signed up its first cornerstone investor in late 2010 – and is...
India's Yes Bank to set up PE fund with IFC
Yes Bank, India's fourth largest privately owned lender, is to create a joint fund with the International Finance Corporation (IFC), the investment arm of the World Bank.
CVC seeks $12.2b for latest global buyout fund – report
CVC Capital Partners is targeting EUR9 billion ($12.2 billlion) for its next global buyout fund, one of the largest currently being sought.
Tata Capital to raise maiden distress fund
Tata Capital, the private equity arm of India's Tata group, plans to raise nearly INR5 billion ($94 million) for its maiden distress assets fund.
Lightspeed closes debut China fund at $168m
Lightspeed China Partners has reached a final close of $168 million on its debut China fund, exceeding the target size of $150 million. The fund, which includes an affiliated co-investment vehicle, will target early-stage investments in the internet,...
RMB funds: Beyond the hype
Last week AVCJ held its six-monthly media briefing at which we – joined by several industry participants – reviewed private equity activity in 2012 and offered views as to what 2013 might have in store. The data made for sober reading: Fundraising...
CDH to reach $1b first close on Fund V by February
CDH Investments is expected to reach a first close of $1 billion on its latest fund by Chinese New Year. The Chinese GP has an overall target of $2 billion for CDH Fund V, which launched in September 2012.
PSERS to invest in Morgan Stanley PE Asia’s fourth fund
Morgan Stanley Private Equity Asia (MSPEA) has received a commitment of up to $100 million for its fourth fund from Pennsylvania Public School Employees’ Retirement System (PSERS). The pension system previously invested in global funds launched by Morgan...