Industry
Singapore's Prestellar raises $100m VC fund
Prestellar Ventures, a Singapore-based GP backed by two Nepalese companies as well as Indian microfinance institution Satin Creditcare and India-focused investor Frontline Strategies, has raised a $100 million fund.
SAIF India raises $350m for third fund
SAIF India has raised $350 million for its third fund aimed at investments in both public and private companies at varying stages of development.
China's Xiaomi confirms $1b debt deal
Chinese PE-backed smart phone maker Xiaomi has raised a new $1 billion loan to support global expansion and the build-out of its offline retail network.
PennSERS commits $100m to Asia Alternatives
Pennsylvania State Employees’ Retirement System (PennSERS) has extended its long-standing relationship with Asia Alternatives, allocating $50 million to the firm’s latest fund-of-funds product and a further $50 million to a separate account.
Alternatives: Times of plenty
The Willis Towers Watson global alternatives survey offers few surprises in terms of where investors are putting their capital, but there are some interesting developments in which investors are providing it
PAG to raise $500m China growth fund
PAG Asia Capital is raising a $500 million China growth fund, which will enable the firm to target middle-market deals that fall below the minimum check size for its pan-Asian vehicle.
India's IIML raises infrastructure fund target to $1b
IL&FS Investment Managers (IIML), the private equity arm of India’s Infrastructure Leasing & Financial Services (IL&FS), has raised the target of its infrastructure fund to $1 billion.
Hong Kong advisory body criticizes ineffective PE tax policy
Hong Kong’s tax exemption for offshore private equity funds – introduced with a view to encouraging managers to expand their presence in the territory – has failed to deliver, according to the advisory body that made detailed proposals as to how the legislation...
Partners Group raises $7b for direct PE deals
Partners Group has achieved a close of EUR6 billion ($7 billion) on its latest direct private equity fund. It is the firm's largest fundraise to date.
LP interview: Allstate Investments
Allstate Investments has gradually increased its exposure to private equity – and Asia specifically – over the last 12 years or so, but the current bullishness around the asset class is cause for concern
China project funds: Cut to fit
Project funds have become popular in China on the back of increased demand for PE exposure from corporates and high net worth individuals. It remains to be seen if they have true staying power
Carlyle targets $5b for Asia buyout fund
The Carlyle Group is looking to raise $5 billion for its fifth Asia buyout fund. The private equity firm closed its previous pan-regional vehicle at $3.9 billion in 2014 after more than two years of fundraising.
Asian club deals: Big ambitions
A resurgence in club deal activity has proven symptomatic of the evolution of Asia's private equity buyout market. But while the structure and the nature of deals has changed, the underlying rationale remains fixed
Corporate VC offers unique benefits in Southeast Asia – AVCJ Forum
Corporate venture capital investment can fill an important niche in supporting Southeast Asia’s start-up ecosystem, industry participants told the AVCJ Singapore Forum.
Creditors to assume control of KKR-owned Bis Industries
Australian mining services provider Bis Industries has reached a debt-to-equity restructuring agreement with creditors that will see current owner KKR relinquish its majority position.
Korea's NPS loses CIO
The CIO of South Korea’s National Pension Service (NPS) has submitted his resignation, seven months before the end of his two-year tenure.
Bank sell-downs drive Asia credit opportunities – AVCJ Forum
As banks look to reduce their exposure to Asian non-performing loans (NPLs), private lenders that can offer more flexibility on terms are seeing increased opportunities for investment, industry professionals told the AVCJ Singapore Forum.
IoT in Asia: Things to come
A number of political factors have positioned Asia Pacific to be a global leader in internet-of-things development. Investors must now navigate an unwieldy field of technologies, markets and social drivers
Hamilton Lane opens Australia office
Hamilton Lane has opened an office in Sydney and hired James Martin, who previously spent five years at Partners Group focusing on institutional sales and deal origination, to lead local operations.
Renewable energy still faces challenges to viability in Asia
Renewable energy has a way to go before it represents a consistent source of investment opportunities in Asia despite a strong push in recent years, investors told the Infrastructure Investors Forum.
C-Bridge closes second China healthcare fund at $400m
C-Bridge, a Chinese private equity firm that concentrates on late-stage growth capital and buyout opportunities in the healthcare space, has closed its second fund at the hard cap of $400 million.
Angel investor launches in New Zealand
Richard Coon, a director and co-founder at private equity-backed New Zealand insurance provider Partners Life, has launched a new domestically facing venture group known as Angel Investors Marlborough (AIM).
KKR's Joe Bae elevated to senior leadership role
Joe Bae (pictured), who has spent the last 12 years building out KKR’s Asian operation, has been named co-president and co-COO of the firm as co-founders Henry Kravis and George Roberts prepare to hand over leadership to the next generation.
Singapore's Spring Seeds to invest $73m in tech start-ups
Singapore-government backed Spring Seeds Capital has committed S$100 million ($73 million) to an investment program targeting domestic start-ups developing high-end technology.