Industry
Profile: EmergeVest's Heath Zarin
Heath Zarin has taken EmergeVest out of the Asian private equity mainstream, leveraging a specialist strategy and operational expertise to create the UK’s largest private logistics business
Fund focus: Edelweiss scales up for India distress
Edelweiss Alternative Asset Advisors expands its India distress agenda with a new fund mandated for both direct debt buyouts and equity investments
Co-investment: Partners in time
The decision to commit due diligence resources to a potential co-investment balances complex factors around timing, strategy, and relational comfort. Efficiency and patience are indispensable virtues
Redpoint China raises $400m across two new funds
Redpoint China Ventures has closed a $300 million fund focusing on early-stage investments and a $100 million opportunity fund looking to invest in growth-stage companies.
China VC firm Qiming announces promotions
China’s Qiming Venture Partners has announced the promotion of several staff members, including Stella Zhou (pictured), who is the first person to be elevated from associate to partner within the firm.
HighLight reaches first close on third renminbi vehicle
Chinese healthcare-focused GP HighLight Capital, which was set up by Steven Wang, formerly of CDH Investments, has reached the first close for its third renminbi vehicle at around 70% of the hard cap.
Macro uncertainty: Mind games
A maze of strategies, philosophies, and preconceptions is underpinning a sense of confidence among alternatives investors as global economic uncertainty mounts. It must be navigated carefully
Australia's Funds SA hires Cameron Sinclair from Future Fund
Funds SA, which is responsible for investing on behalf of South Australia’s public-sector superannuation funds, has recruited Cameron Sinclair (pictured) from Future Fund to lead private equity and infrastructure activity.
PE industry cautiously optimistic on Hong Kong tax reforms
Industry participants have praised steps taken by the Hong Kong government to make it easier for private equity firms to operate locally, while cautioning that challenges remain regarding the regulation of managers in the territory.
Ascent Capital launches Myanmar PE fund
Ascent Capital, a Singapore-based private equity firm set up last year with a focus on Myanmar, has formally launched its debut fund with about $50 million in confirmed commitments.
Suning invests in Yunfeng co-invest vehicle for iKang take-private
Chinese consumer electronics retailer Suning has committed $50 million to a US dollar-denominated co-investment vehicle managed by Yunfeng Capital that will support the $1.4 billion privatization of iKang Healthcare Group.
Edelweiss closes India stressed asset fund at $1.3b
Edelweiss Alternative Asset Advisors, the alternative investment arm of India’s Edelweiss Group, has raised INR92 billion ($1.3 billion) for its second fund focused on investments in Indian stressed assets.
Adrian Kerley leaves Australia's CSC for IFM
Adrian Kerley (pictured), the investment manager responsible for private markets at Australia’s Commonwealth Superannuation Corporation (CSC) will join the private equity team at IFM Investors in February.
Domestic, international themes drive India opportunities
Companies that cater to international customers currently offer the most compelling PE investment opportunities in India, but GPs are increasingly excited about the rise of new segments in the domestic market.
LP interview: PennSERS
Bryan Lewis, CIO of Pennsylvania State Employees’ Retirement System, discusses accessing Asia, approaches to co-investment, and paring a bloated PE portfolio into a smaller set of strategic relationships
Fund focus: Sizing up selectively
ChrysCapital Partners has increased its fund size and its commitment to operations in response to a maturation of the Indian market characterized by bigger deals and more opportunities to drive change
Fund focus: Matrix doubles down on India
Matrix Partners India closed its third fund in speedy fashion despite ongoing woes about consistency in the country’s venture environment. Patience regarding comparisons with China has been critical
4Q analysis: Defined by uncertainty
Korea comes to the fore as investment in China slows; venture capital and pan-regional players remain preeminent in Asia fundraising; IPO weakness reflects investor wariness
India NBFCs: Stemming the flow
India’s NBFC sector has pulled through its recent liquidity issues, but questions remain about the weaknesses that led to the crisis. Investors remain confident but must learn from the experience
Japan's Mitsui backs $100m VC fund in Israel
Japan’s Mitsui & Co has invested in Israel-based Magenta Venture Partners’ debut fund, which is targeting $100 million and to date backed entirely by Japanese corporates.
Fund focus: Lightspeed ends 2018 with a flourish
Lightspeed China Partners took just three months to raise $560 million for its fourth US dollar fund, which includes a $200 million sidecar for follow-on investments
Asia PE investment hits $183b in 2018
Private equity investment in Asia slowed to $183.3 billion in 2018 – from $207.3 billion the previous year – as a decline in large-scale buyout activity offset a surge in late-stage rounds for technology companies.
Baring Asia receives $25m LP commitment from LACERS
The Los Angeles City Employees’ Retirement System (LACERS) has committed $25 million to Baring Private Equity Asia’s seventh pan-regional fund, the same amount it committed to the GP’s previous vehicle.
TPG, CICC establish dual currency China investment platform
TPG Capital and CICC Capital, the private equity arm of China International Capital Corporation (CICC), have agreed to establish a joint platform that will make investments in US dollars and renminbi.