Fundraising
IFC raises $280m for global climate change fund-of-funds
International Finance Corporation (IFC), the private investment arm of the World Bank, has received $280 million from the governments of Canada and the UK and Azerbaijan’s sovereign wealth fund for its climate change fund-of-funds.
Asia PE fundraising drops by one third to $46.8b in 2012
Private equity fundraising in Asia Pacific slumped by more than one third to $46.8 billion in 2012 from $72.9 billion a year ago as capital committed to China-focused vehicles dropped off markedly over the course of the year. It is the lowest annual total...
Creador closes Fund I, eyes Fund II
With his first fund days away from a final close, Creador CEO Brahmal Vasudevan is already thinking about a successor vehicle. This is because Creador I, which focuses on India, Malaysia and Indonesia, is on course to be more than two-thirds deployed...
CapAsia taps Japanese for infra fund
As Japanese companies struggle in shrinking domestic market, government agencies and financial institutions have joined forces to promote local expertise overseas. For Capital Advisors Partners Asia (CapAsia), the country has become an attractive LP market.
Korea Teachers to invest in Hamilton Lane, Paul Capital
Korea Teachers Pension Fund (KTPF) will invest $30 million each to Hamilton Lane and Paul Capital as it looks to increase its global exposure to 15% of its overall private equity portfolio by 2018.
Global PE fundraising reaches $315b for 2012 – Preqin
Global private equity fundraising reached $315.4 billion in 2012, up slightly on $311.7 billion the previous year, but the number of vehicles reaching a close fell sharply to 698 from 910, according to Preqin. This sense of a flight to quality – something...
4Q analysis: End-of-year blues
Direct investors stand out as those around them fade; the fundraising climate continues to weaken; a few bright spots in the IPO market
Mayfield launches second India fund
Mayfield has launched its second India fund, according to a US regulatory filing. No details were given on the target size. The GP closed its first India-focused vehicle in 2008 on $115 million, with a remit to invest in the consumer, infrastructure and...
Creador reaches $132m final close on debut fund
Creador, a Southeast Asia and India-focused private equity firm, has reached a final close of $132 million for its debut fund. This comes after a first close of $100 million in late 2011. Creador already has plans to launch a second fund in 2013.
IFC backs Lighthouse’s second India SME fund
Lighthouse Funds has won a commitment of up to $25 million from the International Finance Corporation (IFC) for its latest India-focused vehicle. The GP is targeting a corpus of $125 million for India 2020 Fund II, which will invest in small- and medium-sized...
India Awards: Firm of the Year – ChrysCapital Partners
ChrysCapital overcame a difficult market and the departure of its founder to close Fund VI at $510 million, taking the fundraising and firm of the year awards. Managing Director Gulpreet Kohli gives his perspective
Positive vibes spread on Korea
As I noted in a viewpoint piece last September, private equity in South Korea is seeing a revival internationally. The market has steadily worked its way back from one populated almost exclusively by local GPs – most of them subsidiaries of securities...
ICICI, Apollo raise $500m distressed fund – report
ICICI Ventures and Apollo Global Management have reportedly raised $325 million to invest in distressed Indian companies. The joint fund, namely AION, will eventually increase its corpus to $500 million.
China cleantech firm Nature Elements cuts fundraising target
Nature Elements Capital, a Tianjin-based Cleantech PE firm, has nearly halved its fundraising target for its debut US-dollar fund amid tough market conditions.
Unitus raises $8m for India seed fund
Unitus Seed Fund (USF) has raised more than $8 million for its seed-stage venture capital fund focused on start-ups serving India's low-income consumers.
Mizuho, JBIC to set up $183m SME private equity fund
The Japan Bank for International Cooperation (JBIC), Mizuho Corporate Bank (Mizuho CB) and Mizuho Bank will form the Mizuho ASEAN PE Fund to support the overseas expansion of Japanese mid-tier and small- to medium-sized enterprises (SMEs).
CapAsia to launch $350m infrastructure fund
Singapore-based Capital Advisors Partners Asia (CapAsia) is in the process of launching a new infrastructure fund to invest in projects across Southeast Asia. The fund - CapAsia ASEAN Infrastructure III - will start out with $100 million and eventually...
China to see record PE deal flow in 2013 – PwC
China is likely to see record highs in terms of private equity deal volume and value in 2013, according to PricewaterhouseCoopers, as a “perfect storm” of turmoil in the global economy and a slowing domestic economy allows investors to target larger-scale...
Actis launches fourth India-focused fund
Actis Capital is raising its fourth India-focused fund, four years after its predecessor closed at $500 million. The move comes at a difficult time for the Indian fundraising environment, resulting in some GPs dropping out of the market while others take...
India webinar: Relighting the fire
Investor sentiment toward Indian private equity has weakened considerably over the last year. AVCJ, supported by KPMG, hosted a webinar in December at which industry leaders assessed the various challenges
Texas County & District invests $50m in RRJ’s second fund
Texas County & District Retirement System (TCDRS) has committed $50 million to RRJ Capital’s second fund, which is targeting up to $5 billion. The private equity firm is run by Richard Ong, who previously co-founded China-focused Hopu Investment Management,...
India’s Essel Group to launch private equity fund
Essel Group, the Indian conglomerate headed by media mogul Subhash Chandra, has set up a new investment arm - Essel Financial Services - that will target private equity, infrastructure, real estate and financial services.
Equis closes first fund at $647m
Equis Funds Group, a pan-Asian fund manager focused on Asian energy and infrastructure, has closed its first private equity fund - Equis Asia Fund I - at $647 million, exceeding its initial target of $500 million.
Rabo targets $250m for second India agribusiness fund
Rabo Equity Advisors is targeting $250 million for its second India agribusiness fund, more than double the $120 million raised for its debut vehicle in 2008. The larger corpus means Rabo’s typical transaction size will increase to $25 million from...