Fundraising
SBI plans second cleantech fund
Japanese financial services group SBI Holdings plans to raise ¥30 billion ($332 million) for a second venture fund with a special focus on Asia’s clean technology sector, forecasting an expected IRR of 25-30%.
NZ Direct Capital closes Fund IV
New Zealand private equity and venture capital investor Direct Capital has announced the close of its Direct Capital IV fund at NZ$325 million ($250 million), well above the fund's NZ$250 million ($175 million) target.
Pantheon sold to AMG for $775 million
Pantheon Ventures, the UK-originated global fund-of-funds manager, has been sold for some $775 million in cash by Russell Investments, its owner since 2004, to Affiliated Managers Group (AMG), a US asset management firm coordinating a network of affiliates...
Bocom launching $500 million offshore fund
Leading Chinese lender Bank of Communications (Bocom) is reportedly rolling out a USD-denominated China-focused offshore private equity fund through its Bocom International Asset Management arm, targeting $250-500 million.
CITIC Capital Partners closes ahead on $925 million
CITIC Capital Partners, the private equity arm of China’s CITIC Capital Holdings Ltd., has had a final close on its second buyout fund at $925 million, exceeding its original target of $750 million.
Temasek plans new public markets vehicle Seatown
Singapore SWF Temasek Holdings has reportedly registered a new multi-strategy hedge fund-like investment company, Seatown Holdings International, to invest in securities from stocks to bonds and target absolute returns.
Clarity raising second China fund
Beverly Hills-headquartered private equity group Clarity Partners is reportedly seeking to raise its second China fund, targeting some $650 million.
Affinity not raising new fund
Notwithstanding earlier incorrect media reports, leading independent regional buyout firm Affinity Equity Partners has no plans to start raising a new fund this year.
SEC reconsiders placement agent restrictions
The US Securities and Exchange Commission (SEC) may review its recently unveiled plans to prevent private equity firms from hiring placement agents to help seek funds from public pensions.
Axis Bank to cater to family offices
In an attempt to capture the growing family office market, Axis Bank is planning to offer an all-inclusive service for India’s ultra-high-net-worth individuals or families with assets exceeding Rs100 crore ($22.5 million).
Thai Government Pension Fund will boost PE, realty
Thailand’s Government Pension Fund (GPF) will boost its overseas investments, including private equity fund investments and direct investments in real estate and infrastructure, Sopawadee Lertmanaschai, secretary-general of GPF announced earlier in Bangkok....
India's Ascent beats odds, raises $350 million
Ascent Capital Advisors India Pvt. Ltd. has announced the close of its Ascent India Fund III, garnering $350 million in commitments, amid rumors that the fund was in fact oversubscribed.
CIC enters Apax's "closed" Europe VII fund
China Investment Corporation (CIC), China's $300 billion sovereign wealth fund, has reportedly invested €685 million ($952 million) in Apax Partners' Apax Europe VII, a €11.2 billion ($15.5 billion) buyout fund that was ostensibly no longer open to investors....
JPMorgan closes $858.6 million Asia infra fund
JPMorgan Asset Management has announced the close of its JPMorgan Asian Infrastructure & Related Resources Opportunity Fund at $858.6 million.
Axiom closes Fund II ahead on $950 million
Singapore-headquartered independent fund of funds Axiom Asia Private Capital has delivered major corroboration for those who hoped that 2010 would see a rebound in private equity fundraising.
China: Globalizing the RMB
While the rest of the world is struggling with recession, China is different.
New alignments, new businesses
New regulations and new fund realignments look set to push more private equity activity to Asia.
CITIC hits $1.3 billion for RMB fund
CITIC Private Equity Funds Management Co., Ltd. (CITIC PE), has hit a new high in RMB fundraising, accumulating RMB9 billion ($1.32 billion) for its debut vehicle, the CITIC Mianyang Private Equity Fund.
Ashurst appoints Moroz, Davies for Asian funds
London-headquartered international law firm Ashurst LLP has made two private equity-related appointments for Asia, with the appointment of Dean Moroz and Mark Davies as Counsels in Hong Kong and Singapore respectively.
A wining alternative?
One of the more unusual alternative investment fund propositions to have emerged lately is the Lunzer Wine Fund launched by the UK’s Lunzer Wine Investments, and now marketing in Asia Pacific.
New Horizon rumored at $1 billion
Co-founded by the Chinese Prime Minister’s son, Wen Yunsong, PRC-focused private equity fund New Horizon Capital is fundraising for its third fund, originally targeting $500 million but now rumored to be looking at hitting the $1 billion mark.
First Eastern launching Dubai fund
Victor Chu’s First Eastern Investment Group is planning a $250 million private equity fund to focus on investments in Dubai, aiming to assist local businesses starved of capital since the Gulf economy’s sudden collapse.
Capital Today hits $183 million first close
Capital Today, the Shanghai-based PRC private equity firm, has held the first close of its second private equity fund on $183 million.
To market, to market, to market we go
Last year, in the first half of 2009, private equity fundraising fell 60-70% according to various estimates. This year, executives in private equity all seem to be racking up the air miles, on a mission to convince LPs around the world that they have...