Industry
Babson closes Asia mezzanine fund at $177m
Babson Capital Management has reached a final close of $177.2 million on its latest Asia-focused mezzanine fund.
Lightspeed to raise dedicated India venture fund
US-based Lightspeed Venture Partners is looking to raise $115 million for its first India-focused fund.
Nexus raises $434m for two India VC funds
Nexus Venture Partners has closed its fourth India venture capital fund at $304 million and raised a further $130 million for a top-up fund focusing on later-stage investments in existing portfolio companies.
CITIC Private Equity raises $1.3b for second US dollar fund
CITIC Private Equity has closed it second US dollar-denominated China fund with just under $1.3 billion in commitments.
Actis agrees exit from India's Phoenix Lamps
Private equity firm Actis has reached an agreement to exit its stake in Indian automotive lighting manufacturer Phoenix Lamps to cable maker Suprajit Engineering.
Australia's portfolio disclosure rule pushed back again
The Australian government has once again deferred introduction of portfolio holdings disclosure legislation that could require domestic LPs to reveal the identity and investments of each PE and VC fund they back.
Australia mezzanine: Compromise solution
The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what is, for now, an acceptable price
LP interview: CDC Group
Four years ago, controversy and political pressure forced the UK’s CDC Group into a major shift in strategy. Managing Director Alagappan Murugappan explains how the development fund has evolved since then
Fund focus: Unison hones in on South Korea
Comparisons can be drawn between Unison Capital’s debut Korea buyout fund and its first Japan vehicle raised more than 15 years ago. The targets are small- to mid-size companies that have growth potential but need help realizing it, particularly in terms...
KKR-owned MMI completes $580m refinancing
MMI, a Singapore-based hard disk drive components manufacturer owned by KKR, has secured a $520 million term loan and a $60 million five-year secured revolving credit facility to refinance its outstanding debt.
Unison closes debut Korea fund at $280m - update
Japan-based private equity firm Unison Capital has closed its first-ever Korea-dedicated buyout fund at approximately KRW300 billion ($280 million).
India's Fortis to sell Singapore unit for $83.5m
India's Fortis Healthcare will sell its Singapore-based diagnostics arm RadLink-Asia to Fullerton Healthcare Group for S$111 million ($83.5 million).
China VC firm Banyan closes $100m co-investment fund
Chinese venture capital firm Banyan Capital has closed its latest co-investment fund at $100 million, having spent just one month in the market.
AVCJ daily bulletin returns May 4
AVCJ's daily bulletin will not be published on Friday May 1 due to the Labor Day public holiday in Hong Kong.
OPIC seeks fundraising proposals from emerging markets GPs
The Overseas Private Investment Corporation (OPIC), a development finance institution (DFI) backed by the US government, has issued a call for proposals from private equity fund managers raising funds for emerging markets.
Fund focus: Brandon secures super fund support
With A$78 billion ($61 billion) in assets, AustralianSuper is said to struggle to make fund commitments of less than A$150 million. Yet it is one of several superannuation funds backing Brandon Capital’s latest life sciences VC vehicle, which has closed...
Indian LPs: Commitment issues
Proposed reforms of investment guidelines for India’s pension system suggest that more domestic capital could flow into the asset class. But is the country’s wider LP community really warming up to PE?
Apax to exit iGate as Capgemini agrees $4b acquisition
French IT services company Capgemini will pay $4 billion to acquire US and India-based technology and service provider iGate, facilitating a 3.7x exit for iGate's PE backer, Apax Partners.
Japan's Rebright launches $20m fund for India start-ups
Rebright Partners - an early-stage investor backed by a consortium of Japanese internet companies - has formed a JPY2.4 billion ($20 million) fund to invest technology start-ups in India.
TPG Growth closes third global fund at $3b
TPG Capital has reached a final close of $3 billion on its third global middle market and growth equity fund. The initial target was $2.75 billion.
BlueRun closes third China VC fund at $200m
BlueRun Ventures has closed its third China-focused venture capital fund at $200 million, targeting early stage start-ups.
Former Auda Asia head joins 3W Partners Capital
Pak-Seng Lai, formerly head of Asia at Auda, has joined 3W Partners Capital, which focuses on consolidation and cross-border investments through strategic resources in southern China.
SEBI considers allowing India VC funds to boost overseas exposure
The Securities and Exchange Board of India (SEBI) is to revise rules governing locally-registered VC funds, allowing them to invest up to a quarter of the their capital overseas - provided the companies hold some operations in India.
Accel, SAIF in $12m Series B round for Coverfox
Indian online insurance marketplace Coverfox has raised a INR750 million ($12 million) Series B round from existing investors Accel Partners and SAIF India.