LPs
China's CIC tops overseas investment deals – study
China’s sovereign wealth fund, the China Investment Corporation (CIC), was the most active investor for overseas direct investment (ODI) in 2012, according to an index published A Capital, a private equity firm focused on cross-border transactions involving...
CalSTRS commits to FountainVest, Bain Asia funds
The California State Teachers’ Retirement System (CalSTRS) committed $120 million to Asia-focused GPs during the final three quarters of 2012, according to a recent disclosure. The pension system also revealed that its private equity portfolio delivered...
Quadria carries the Milestone-Religare torch
For Amit Varma, buying Indian GP Milestone Religare was never part of the plan. He left financial services group Religare last year to set up Quadria Capital with Abrar Mir, formerly of NBD Sana Capital. They recently launched a debut fund, targeting...
1Q analysis: Hard times
Mixed fortunes for Asia buyout funds on the road; large-cap deals weaken, but venture capital activity is on the rise; exits one of few bright spots thanks to spurt in trade sales
StepStone reaches $450m close on secondaries fund
StepStone has held a final close of $450 million on its global secondaries fund. The vehicle, StepStone Secondary Opportunities Fund II, exceeded the original target of $350 million with commitments coming from public and corporate pension funds, insurance...
China's SOEs asked to transfer capital gains to NSSF
China's state-owned enterprises (SOEs) should transfer their capital gains and ownership shares to the National Social Security Fund (NSSF), according to the fund's Communist Party representative.
Korea Teachers Pension Fund CIO to step down
Yun Kyu Lee is to step down as chief investment officer of Korea Teachers Pension Fund (KTPF). His replacement has yet to be announced.
Australia's QIC looks to develop its direct China exposure
QIC, an Australian investment manager QIC with more than A$69 billion ($73 billion) under management for a combination of domestic and international clients, is stepping up its efforts to develop bilateral investment opportunities in China. The group...
University of Michigan commits to Morgan Stanley Private Equity Asia IV
The University of Michigan has committed $25 million to Morgan Stanley Private Equity Asia’s (MSPEA) fourth pan-regional fund. The vehicle, which reached a first close of $750 million towards the end of last year after less than six months in the market,...
NSSF assets tipped to reach $806b by 2020
China's National Council for Social Security Fund (NSSF) will see its assets swell to as much as RMB5 trillion ($806 billion) by 2020, driven by contributions from state-owned enterprises (SOEs), according to the fund's former chairman.
Temasek sets up dedicated LNG investment unit
Temasek Holdings has set up an investment unit dedicated to liquefied natural gas (LNG) assets. The move comes as the Singaporean sovereign wealth fund seeks to increase its energy exposure – as also evidenced through recent PE investments – in recognition...
China's NSSF assets top $178b in 2012
China’s National Council for Social Security Fund (NSSF) reported a 7% investment return in 2012, its best performance in three years, as total assets under management topped RMB1 trillion ($178 billion) for the first time.
OTPP private capital unit realizes $5b, reinvests $3b in 2012
Teachers’ Private Capital (TPC), the private equity fund and direct investment arm of Ontario Teachers’ Pension Plan (OTPP), saw $5 billion in gross realizations and $3 billion in reinvestments in 2012, with 13 new direct deals and 12 commitments to new...
New Mexico State Investment Council commits to Affinity Fund IV
New Mexico State Investment Council (NMSIC) has agreed to invest up to $75 million in Affinity Equity Partners’ fourth pan-Asia fund. The vehicle reached a first close of $1.5 billion in early March and has a hard cap of $3.5 billion.
IFC may anchor Thailand-focused Lakeshore fund
The International Finance Corporation (IFC) is considering a commitment of up to $20 million to Lakeshore Capital Fund I, a Thailand-focused GP that is seeking to raise $100 million.
LGT opens Beijing office as part of differentiation drive
LGT Capital Partners has chosen Beijing as the location for its fourth investment office globally as the firm looks to differentiate its exposure to Asia’s largest private equity market in an increasingly competitive fund-of-funds space.
Malaysia's EPF eyes more PE opportunities
Malaysia’s Employees Provident Fund (EPF) plans to increase its private equity commitments in 2013, with a particular interest in regional co-investment opportunities.
New Jersey commits $500m to Blackstone's debut Asia real estate fund
New Jersey Division of Investment plans to commit $500 million to The Blackstone Group’s debut Asia real estate fund. The vehicle’s existence was confirmed last December when Tony James, Blackstone’s president, told a conference that it was a “golden...
Pay to play: Australia's fee debate
The debate over private equity fees in Australia is a hotly contested domestic issue, but its long-term implications say much about how the asset class might evolve at a global level
CPPIB prefers India to China as infrastructure play
Canada Pension Plan Investment Board (CPPIB) expects to make more progress in Indian infrastructure as opportunities in the sector in China are limited by the availability of cheap finance, which enables local governments to develop projects without foreign...
Neuberger Berman has final close on $1.1b global co-invest fund
Neuberger Berman Group has reached a final close of $1.1 billion on its second global co-investment fund, NB Strategic Co-Investment Partners Fund II (NBCIP II). The original target was $750 million.
Asia has more than one third of global sovereign assets – study
Asia accounts for 39% of the $5.2 trillion in sovereign wealth fund (SWF) assets globally, with China alone holding $1.49 trillion, according to a new study.
Indonesia fundraising: Reality check
Few Indonesia-focused GPs that sprung up in recent years have made headway. It points to a still immature local market and recognition amongst LPs that they can get exposure to the country in other ways
Tougher this time
A number of PE executives - old enough to have seen several cycles – have commented on how difficult the fundraising environment is at present. “I thought my last fundraising [in 2004] was very difficult. Now that I am raising my current fund, the past...