Fundraising
Asia buyouts: The big get bigger
Asia’s pan-regional buyout players are raising ever larger funds and pursuing ever larger deals. Is there now more capital in this segment of the market than places to – sensibly – put it?
Goldman, CIC form $5b Sino-US industrial fund
Goldman Sachs and China Investment Corporation (CIC) have launched a private equity fund that is seeking to raise $5 billion to invest in US companies. The initiative is part of efforts to strengthen trade relations between the two countries.
Q&A: Brooklands Capital Strategies' Dan Carroll
Dan Carroll, a founding partner at Brooklands Capital Strategies, cut his teeth with H&Q Asia Pacific and then helped build Newbridge Capital. He told AVCJ how private equity forced its way into the mainstream
China's Phoenix Travel gets $105m Series C
Phoenix Travel Group, a China-based travel services provider, has raised a RMB700 million ($105 million) Series C round led by CITIC Capital, Haier Capital, Legend Holdings and Legend Capital.
GA hires ex-Actis Asia IR head to spur capital partnering
General Atlantic (GA) has hired Pamela Fang, formerly head of Actis' investor development group in Asia, as a managing director to lead its capital partnering efforts in Asia.
Standard Chartered Private Equity revives spin-out plan
Standard Chartered Private Equity (SCPE) has relaunched an effort – which failed to get traction with the bank last year – to spin-out its team and the remaining $1 billion in PE assets on its balance sheet into an independent entity.
Fund focus: HighLight's early-stage prescription
HighLight Capital has secured $250 million for its second China healthcare-focused fund, suggesting that proven sector specialists are getting traction with institutional LPs
Asian LPs and infrastructure: Rousing the giants
Infrastructure is shedding its reputation for being a sleepy sector as Asian investors join a global surge of interest in the asset class. Strategic angling for the best deals will now require a more nimble approach
Carlyle makes $4.5b first close on Asia buyout fund
The Carlyle Group has achieved a first close of more than $4.5 billion on its fifth Asia buyout fund. The vehicle launched earlier this year with an initial target of $5 billion.
True North sets $1.1b hard cap for sixth India fund
Indian private equity firm True North – formerly known as India Value Fund Advisors (IVFA) – has set a hard cap of $1.1 billion for its sixth fund, according to sources familiar with the situation.
Everstone-Realterm JV launches third India logistics fund
IndoSpace, a joint venture between the Everstone Group and US-based Realterm Global, has launched its third fund aimed at developing Indian logistics and industrial facilities.
SL Capital raises $428m secondaries fund
SL Capital, a private markets arm of Aberdeen Standard Investments, has raised $428 million for its third private equity secondaries fund, surpassing the target of $400 million.
China Everbright, Walden launch semiconductor fund
China Everbright and venture capital firm Walden International Group have jointly launched a $500 million fund focused on semiconductors and industrial technology.
LP interview: LGT Capital Partners
LGT Capital Partners sees Asia as a misunderstood investment destination among Western LPs due to unfounded concerns about the risk of the region. Local connections are key to building a strong strategy
China's HighLight Capital closes Fund II at $250m
Chinese healthcare-focused GP HighLight Capital, which was set up by former CDH Investments executive Steven Wang, has closed its second US dollar-denominated fund at the hard cap of $250 million.
Nexus Point reaches $200m first close on Greater China fund
Nexus Point, a private equity firm launched by former MBK Partners executive Kuo-Chan Kung, has reached a first close of just over $200 million on its debut Greater China-focused fund.
SparkLabs launches $100m blockchain fund
SparkLabs Group has launched a $100 million early-stage venture capital fund that will focus on blockchain and cryptocurrency investments globally.
Fund focus: Vickers prepares to narrow its focus
Vickers Venture Partners raised $230 million for its latest VC fund on the back of a strong track record, but the firm's future vehicles are likely to have more specific remits
3Q analysis: More about Japan
Toshiba sends Japan into top spot for investment amid corporate carve-out excitement; fundraising plummets in the absence of Chinese state-backed vehicles; the IPO window opens as public markets boom
ADIA commits $1b to India's state-backed infra fund
Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund based in the United Arab Emirates, has committed $1 billion to the Indian government’s National Investment and Infrastructure Fund (NIIF).
ROC Partners backs $118m Australian SME fund
Australian private equity firm ROC Partners has teamed up with the state government of New South Wales and pension fund First State Super to launch a A$150 million ($118 million) equity fund targeting small to medium-sized enterprises (SME).
US-based VC to invest $20m in Pakistan technology fund
US-based 1839 Ventures has agreed to invest $20 million in a fund launched by the Pakistan government that will invest in domestic technology start-ups.
Wavemaker closes second SE Asia VC fund at $66m
US and Singapore-based venture capital investor Wavemaker Partners has raised $66 million for its second Southeast Asia-focused fund. The target was $50 million.
CPPIB commits $500m to Singapore-based ADCF
Canada Pension Plan Investment Board (CPPIB) has committed up to $500 million to Alpha Data Centre Fund (ADCF), a data center-focused PE fund managed by Singapore conglomerate Keppel Group.