Industry
PE investors make part-exit from IMAX China
CMC Capital Partners and FountainVest Partners have made a partial exit from IMAX China after agreeing to an extended lock-up period for the rest of their shares.
Advent raises $13b for global fund
Advent International has closed its eighth global fund at the hard cap of $13 billion after approximately six months in the market.
Japan's GPIF appoints new president
Japan’s Government Pension Investment Fund (GPIF) has appointed Norihiro Takahashi, a long-standing executive at Norinchukin Bank, as its president.
Asian outlier: Standard Chartered and secondaries direct
Over the past three years, Standard Chartered has completed Asia’s largest secondary direct deal and put its PE unit in a position to raise fresh capital. But it is not necessarily a harbinger of things to come
Renminbi fund-of-funds: Commercial remit
Renminbi-denominated fund-of-funds have found a new lease of life in China as new private sector entrants and reformed state-backed incumbents look to tap a growing domestic LP base
Sequoia targets $1.45b for China VC, growth funds
Sequoia Capital is expected to raise up to $1.45 billion for its latest China venture and growth funds, having penciled in April 7 for a final close.
NZVIF commits $13.5m to Movac's fourth fund
New Zealand Venture Investment Fund (NZVIF) has committed NZ$20 million ($13.5 million) to the fourth fund of domestic early-stage investor Movac Partners.
Altos closes second Korea VC fund at $110m
US-based venture capital firm Altos Ventures has closed its second Korean Opportunity Fund (KOF) at the hard cap of $110 million.
Gaja targets mix of majority, minority India deals
One of the first two investments from Gaja Capital's recently closed third fund is a control transaction and Gopal Jain, the firm's managing partner, expects more of the same as the Indian economy matures.
India clarifies safe harbor rules for offshore funds
India's government has clarified the "safe harbor" provision in the country's tax code in a move expected to allow offshore funds doing business in the country to operate with less tax exposure.
Partners Group raises $2.8b for global secondaries program
Partners Group has closed its sixth dedicated private equity secondary program at the hard cap of EUR2.5 billion ($2.8 billion).
TPG targets India distress
TPG Capital is planning to invest up to $3 billion in India-based distressed assets over the next three years, according to Jim Coulter, the firm's co-founder and co-CEO.
PE investors to exit China's Happigo Home Shopping
Hony Capital, CITIC Private Equity and Sequoia Capital are set to exit Happigo Home Shopping, a Shenzhen-listed online and TV shopping subsidiary of Hunan TV.
Reputational due diligence: No stone unturned
Thorough reputational due diligence can find both potential deal-breakers and opportunities for improvement. Are PE firms taking it to the necessary depth in emerging markets like India?
Profile: Trifecta's Rahul Khanna
Rahul Khanna drew on his experiences in Silicon Valley to identify and then fill a gap in India’s VC landscape. The result was Trifecta Capital, the country’s first venture debt fund
CPPIB, Kotak form $525m India distressed asset vehicle
Canada Pension Plan Investment Board (CPPIB) will partner with Kotak Mahindra Group to invest up to $525 million in distressed assets in India.
Korea's POBA to double offshore PE allocation
South Korea’s Public Officials Benefit Association (POBA) plans to double its allocation to offshore private equity funds this year to $200 million.
JC Flowers, Ambit form India stressed asset JV
US-based private equity firm J.C. Flowers will form a joint venture with India's Ambit Holdings to buy stressed assets in India.
NewQuest reaches first close on Fund III, hires ex-CVC executive
Direct secondaries specialist NewQuest Capital Partners has reached a first close of just over $500 million on its third fund, beating the initial target for the entire vehicle.
Lightspeed closes latest funds at $1.2b
Lightspeed Venture Partners has closed its latest global fund at $715 million, and raised an additional $500 million for a follow-on vehicle.
Shanghai Chengtou commits to Hony's Fund VIII
Shanghai Chengtou Holding, a Shanghai-listed property developer which is also a portfolio company of Hony Capital, has committed RMB400 million ($62 million) to the GP’s latest China fund.
India's Paragon reaches $50m first close on maiden fund
Paragon Partners, an India-based mid-market private equity firm founded last year, has reached a first close of $50 million on its debut fund.
CDPQ establishes India office
Caisse de dépôt et placement du Québec (CDPQ) has founded its India office and committed to invest $150 million in renewable energy in the country.
GPs focus on operational value-add in slowing China - AVCJ Forum
China's economic slowdown can create better investment opportunities for long-term private equity investors who are value-oriented and operationally focused, as entrepreneurs are becoming more receptive to the asset class.