Fundraising
Permira reaches $6.9b first close on latest global fund
Permira has achieved a first close for its sixth global buyout fund, with about EUR6.3 billion ($6.9 billion) in commitments.
QIC, Future Fund support AGL's Australia renewables fund
The QIC Global Infrastructure Fund and Future Fund have committed A$800 million ($598 million) to the Powering Australian Renewables Fund (PARF), a vehicle launched by domestic electricity provider AGL Energy to bankroll large-scale renewable energy projects....
Alibaba Pictures launches $300m TV, movie fund
Alibaba Pictures, the Chinese internet giant’s Hong Kong-listed film and entertainment unit, has launched a RMB2 billion ($300 million) fund that will make movie and TV-related investments.
Vickers Venture Partners raises $63m
Singapore’s Vickers Venture Partners has reached an S$86 million ($63.3 million) first close for its fifth fund, which is targeting early and expansion stage Asian companies.
Singapore-listed Keppel targets $1.5b for two PE funds
Singapore conglomerate Keppel Corporation has raised $410 million for two private equity funds – to be operated by its asset management arm – that have a combined target of $1.5 billion.
Brookfield, State Bank of India plan $1b distress fund
Canada’s Brookfield Asset Management has signed a preliminary agreement with the State Bank of India (SBI) to invest about INR70 billion ($1 billion) in stressed assets in India.
500 Startups raises $8.3m for enlarged Thai fund
US-based 500 Startups has received $8.3 million in LP commitments for its Thailand-focused early-stage fund 500 TukTuks after expanding its targeted scope on the back of increased investor interest.
IFC to support Unitus-backed emerging markets accelerator
The International Finance Corporation (IFC) plans to support an accelerator fund launched by Capria Ventures – an impact investment firm sponsored by Unitus – that will focus on South and Southeast Asia, Sub-Saharan Africa and Latin America.
GPs must be prepared to listen when pitching family offices - AVCJ Forum
Private equity firms must take the time to understand their audience when pitching funds to family offices, leading industry practitioners told the AVCJ USA Forum.
Brookfield closes $14b global infrastructure fund
Canada’s Brookfield Asset Management has achieved a final close of $14 billion for a global infrastructure fund, exceeding the vehicle’s original target corpus of $10 billion.
2Q analysis: Flattering to deceive?
China shores up Asia investment activity, driven by tech-related deals; robust VC fundraising in China, Southeast Asia masks weak region-wide activity; volatility prolongs the exits downturn
Fragmentation factor: Deal-by-deal draws interest in Southeast Asia
Deal-by-deal investment is gaining traction in Southeast Asia due to a reluctance to back blind pool funds in the region and highly localized deal-sourcing. It is unclear whether the dynamic could, or should, remain
IDG Capital Partners closes $1b China VC fund
IDG Capital Partners has closed its latest China-focused venture capital fund at $1 billion, in partnership with Silicon Valley-based Breyer Capital.
BOV Capital launches $14.9m Sri Lanka VC fund
Sri Lanka and Singapore-based venture firm BOV Capital has launched its maiden INR1 billion ($14.9 million) vehicle, with a mandate to invest in early-stage Sri Lankan technology companies.
Gopher, Perfect World launch $300m China media M&A fund
Gopher Asset Management, the PE arm of Noah Holdings, has teamed up with Chinese movies-to-gaming company Perfect World to launch a media and culture M&A fund that has a target of RMB2 billion ($300 million).
Farallon raises $1.1b for Asia, Latin America special situations fund
Farallon Capital Management has closed its third special situations fund focused on Asia and Latin America at $1.1 billion.
Australia's Alchemy Ventures launches $150m fund
Australian venture capital firm Alchemy Ventures has launched a A$200 million ($150.3 million) fund that will focus largely on regional start-ups specializing in electric vehicle (EV) batteries.
CMC reaches $350m first close on China media fund
CMC Capital Partners, a private equity firm set up by Ruigang Li, formerly president of Shanghai Media Group (SMG), has reached a first close of just over $350 million on its second US dollar-denominated fund.
Tipping points: Asian LPs target the US
While global private equity firms have well-established channels for tapping Asian institutional investors, it continues to be challenging for LPs from this region to access North America's middle-market managers
Legend spin-out Joy Capital raises $200m for VC fund
Joy Capital, a Chinese venture capital firm that spun out from Legend Capital, has raised $200 million for its debut fund.
Korea's NPS allocates $605m to four local PE firms
South Korea’s National Pension Service (NPS) has allocated KRW700 billion ($605 million) to funds managed by domestic GPs VIG Partners, Skylake Investment, Lindemann Asia Investment and SG Private Equity.
DCM closes Asia-US fund at $500m hard cap
DCM has closed its latest global fund, which primarily targets investments in China and the US, at the hard cap of $500 million.
China opens local private funds space to foreign players
China has moved to open up its markets to overseas private fund managers by allowing wholly foreign-owned enterprises (WFOEs) and joint ventures to raise capital domestically and invest it in private companies and the stock markets.
IL&FS targets $500m India infrastructure fund
IL&FS Investment Managers (IIML), the private equity arm of India's Infrastructure Leasing & Financial Services, is raising a $500 million fund to invest in domestic road and energy projects.