Industry
Secondary buyouts: Second time lucky?
PE secondary buyouts are becoming more accepted in Asia as GPs increasingly look to other fund managers for exit opportunities
Baring sets $5.5b target for latest pan-Asian fund
Baring Private Equity Asia has set a target of $5.5 billion for its seventh pan-regional fund. The firm closed its previous vehicle at $3.98 billion in early 2015.
Baidu Ventures makes $318m first close on AI fund
Baidu Ventures, an independent VC firm set up by Chinese internet player Baidu, has achieved a first close of more than RMB2 billion ($318 million) on its second renminbi-denominated fund that focuses on artificial intelligence (AI).
India budget promotes start-ups, but leaves GPs waiting
India’s latest Union Budget promises strong support for domestic entrepreneurs and venture capital investors, but provides few specific measures to benefit the private equity industry.
China's Legend Star closes $127m VC fund
Legend Star, the early-stage investment arm of China’s Legend Holdings, has closed its third VC fund at RMB800 million ($127 million).
Q&A: WisdomTree's Jesper Koll
Jesper Koll, head of Japan for WisdomTree Asset Management, summons 30 years of Japanese investment experience to predict a durable growth story where an aging population has its advantages
Cooley hires fund formation partner in Beijing
Cooley has hired Xun Zeng as a resident partner in its newly opened Beijing office. Zeng joins from Ropes & Gray in Hong Kong, where she was a counsel in the private investment funds group.
Japan Post entities form joint PE investment unit - update
Japan Post Bank and Japan Post Insurance have agreed to form a joint asset management company that will make direct private equity investments, mostly in partnership with GPs.
China insurance and PE: Get real
The asset management units of Chinese insurance companies can no longer launch debt-like products masquerading as private equity, amid concerns about rising corporate and local government debt burdens
India LPs: Patient capital
Despite favorable regulatory moves in recent years, Indian financial institutions remain reluctant to invest in private equity. Investors see room for optimism, but they know they are in for a long wait
Spiral raises $64m for debut Japan VC fund
Japan-focused Spiral Ventures – known as IMJ Investment Partners until spinning out from its corporate parent last year – has closed its debut fund at JPY7 billion ($64 million).
Chinese banks to launch debt-for-equity swap funds
Chinese banks will be allowed to raise capital from third-party investors to participate in debt-for-equity swap programs as regulators look for additional ways to alleviate the country’s corporate debt problem.
Australian superannuation reform: Efficiency drive
With proposed changes to Australia’s superannuation system emphasizing performance rather than just cost, more money could be directed into expensive yet high-performing asset classes like private equity
China private equity: A question of control
Is investor appetite for China's emerging buyout opportunity matched by an ability to run companies once they have been acquired?
India's 3one4 closes second fund at $39m
Indian VC firm 3one4 Capital has closed its second early stage fund at INR2.5 billion ($39 million), exceeding its target of INR1.5 billion.
Japan's UTEC raises fourth early-stage fund
University of Tokyo Edge Capital (UTEC) has raised JPY15.5 billion ($142 million) for its fourth fund intended to support the development of research conducted at the university into start-ups.
China fintech: Follow the consumer
A crackdown on cash loans has undermined investor confidence in China’s fast-growing online consumer-lending market. However, VC players are confident that start-ups can find other angles
AlpInvest leads $450m stapled secondary for Southern Capital
A consortium led by AlpInvest Partners has made a secondary investment in Southern Capital Group’s second fund that includes a stapled commitment to the firm’s fourth Southeast Asia-focused vehicle.
Asia private equity veteran Veronica John dies at 53
Veronica John, a longstanding emerging markets investor, has died following a battle with cancer. She was 53.
BGH sets $2b hard cap for debut Australia fund
BGH Capital, the Australia and New Zealand-focused private equity firm set up by Ben Gray, formerly co-head of TPG Capital in Asia, has set a hard cap of A$2.5 billion ($2 billion) for its debut fund.
Creador targets $500m for Southeast Asia, India fund
Creador is targeting $500 million for its fourth Southeast Asia and India-focused fund. The private equity firm closed its previous vehicle at $415 million in late 2016.
Japan's SBI sets up $450m AI-blockchain fund
SBI Investment, the VC arm of Japan’s SBI Holdings, has launched a JPY50 billion ($450 million) fund that will focus on artificial intelligence (AI) and blockchain technology.
Clearwater, IFC plan $150m distressed asset JV
The International Finance Corporation (IFC), the investment arm of the World Bank,and Clearwater Capital Partners will together invest $150 million in distressed assets in Asia.
LP interview: CalSTRS
Christopher Ailman, CIO of California State Teachers’ Retirement System (CalSTRS) discusses fund sizes, the attractions and limitations of Asia, the problems of listed PE, and the need for fee reform