Fundraising
Avendus to launch fund targeting listed companies
Avendus PE Investment Advisors plans to raise a fund worth up to $200 million to target mid-size listed companies in India, Reuters reported. This would be the third fund launched by the firm, a unit of financial services player Avendus Capital.
India's L&T plans infrastructure-focused private equity fund
Larsen and Toubro (L&T), an Indian engineering and construction company, is preparing to launch a private equity fund which will invest infrastructure projects, The Economic Times reported.
JAIC forms $45m joint venture in Shenyang
Japan Asia Investment Company (JAIC) will form a joint venture fund with Shenyang Wanrun New City Investment Management to make investments in Chinese and Japanese firms.
China launches first car-focused private equity fund
China’s first auto sector-focused private equity fund is looking to raise RMB30 billion ($4.6 billion) and hopes to close its first deals in August, the Financial Times reported.
China’s brokerages get the green light to launch funds
The introduction of more securities firms will ramp up competition in the domestic private equity market
CITIC PE to launch $773m mezzanine fund
The private equity unit of CITIC Securities is looking to tap into debt finance by launching a RMB5 billion ($773 million) mezzanine fund, Reuters reported.
Aureos targets $200m fund for India, Sri Lanka, Bangladesh
Aureos Capital is targeting a year-end close for a $200 million fund that will invest in India, Sri Lanka and Bangladesh. Balaji Srinivas, managing partner at Aureos India Advisers, told Bloomberg that the Aureos India Fund II would deploy around 15%...
Accel targets $125m India venture fund
Accel Partners is targeting a $125 million fund that will be dedicated to India, The Business Standard reported. The California-based venture capital firm is understood to have sounded out various large fund-of-funds about its plans.
Mitsubishi Corp, Creat Group to form $125m fund
Japanese trading group Mitsubishi Corp. and Beijing-based investment firm Creat Group will establish a JPY10 billion ($125 million) fund in August that will operate as a 50-50 joint venture.
PAG makes first close on Asia buyout fund at $1.7b
PAG Asia Capital has made a $1.7 billion first close of PAG Asia I LP, a pan-Asia private equity buyout fund. The private equity firm is targeting a final close of $2.5 billion in the next few months.
Orchid closes fifth China fund at $650m
Orchid Asia has reached a final close on its fifth China private equity fund, imposing a hard cap of $650 million despite subscriptions amounting to 35% over the target size.
Tokyo Marine, Mitsui launch $123m solar energy fund
Tokio Marine Asset Management and Mitsui & Co. are reportedly set to jointly launch a solar energy investment fund with a targeted corpus of JPY10 billion ($123.3 million). Institutional investors, such as pension funds and life insurers, have been approached...
Archer’s fifth fund could reach $1.5b
Archer Capital’s much talked-of fifth fund could reach A$1.4 billion ($1.5 billion), with Future Fund expected to sign up as an investor, The Australian reported. The fundraising target was previously said to be A$ 1.2 billion ($1.27 billion).
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
GSR Ventures closes fourth fund at $350m
GSR Ventures has closed its fourth fund at $350 million after it was substantially oversubscribed. The firm, which focuses on early-stage technology deals in China, said that existing investors contributed over 80% of the capital.
North American property funds dominate 2Q fundraising
North America property funds accounted for most of the $11.2 billion raised by private equity funds with a final close in the second quarter of 2011, according to research firm Preqin. Total commitments were up on the $8.9 billion raised in the first...
Japanese GPs prepare for a smaller future
Consolidation is in the cards as Japan’s private equity industry focuses on mid-cap plays rather than buyouts
LPs drive change in private equity
A new survey shows recovering confidence in private equity, but LPs are becoming more selective about their investments.
The benefits of making yourself heard
In a recent conversation with a prominent venture capitalist, I was asked about the value in speaking at an AVCJ event. For those of us in the company, it is almost a no-brainer.
Macquarie, China Everbright make first close on infrastructure fund
Macquarie Group and China Everbright have made the first close on their joint China infrastructure fund, securing total commitments of $479 million. They are targeting a final close in 2012.
China's Co-Win Venture closes fifth fund at $385.4m
Shenzhen-based Co-Win Venture Capital Investment has closed its fifth fund, raising a total of RMB2.5 billion ($385.4 million).
Mongolian PE fund targets South Korean investors
Seoul-based private equity firm Doran Capital Partners and Eurasia Capital, the Asia-focused investment bank, are raising a $100 million PE fund targeting Mongolia. The two companies have approached LPs in Korea to fund the vehicle.
New reliance fund to seek overseas LPs
Reliance Equity Advisors (India) is looking to start a $250-$300 million fund by the end of the year, relying on overseas investors for capital, the Wall Street Journal reports.
CICC set to make RMB1.5b first close on new fund
China International Capital Corporation (CICC), the country’s largest investment bank, is set to announce the RMB1.5 billion ($231.5 million) first close of its new renminbi-denominated fund this week, a source close to the process confirmed to AVCJ....