Industry
IFC targets up to $1b for emerging markets fund-of-funds
International Finance Corporation (IFC) wants to raise a $750 million to $1 billion for an emerging markets-focused fund-of-funds with a final close pegged for the end of this year or early 2015.
Noble Group, EIG form energy joint venture
Private equity firm EIG Global Energy Partners has teamed up with Asia-based agriculture and energy supply chain manager Noble Group to acquire and operate upstream and mid-stream energy assets.
Chinese regulator issues guidelines for domestic PE
The China Securities Regulatory Commission (CSRC) has issued draft rules for the domestic private equity industry, including a definition of investors qualified to participate in funds.
PE consortium targets $1.5b China outbound fund
A consortium of foreign and Chinese PE firms has launched a $1.5 billion fund, which aims to raise a combination of US dollars and Chinese currency to invest abroad.
Chinese stationery firm launches PE fund
Shenzhen Comix Stationery, a Shenzhen-listed stationery manufacturer, has won approval to launch a PE fund, which will be managed by Hejun Consulting.
India announces $1.6b fund to support start-ups
The Indian government has pledged to support local start-ups by launching a INR100 billion ($1.6 billion) fund-of-funds.
India lays ground for real estate investment trust roll-out
India’s long-awaited real estate investments trusts (REITs) inched closer to reality as the government offered clarification on the tax status of the structures.
India's YourNest compiles start-up wish list ahead of budget
Indian angel fund Your Nest has put together a list of recommendations on how the government can support start-ups ahead of the 2014-2015 budget statement.
Trade sales in Southeast Asia: Expansion imperative
Companies from within and outside Southeast Asia are scouring the region for M&A opportunities as they seek to capitalize on regional growth. It means a wider variety of trade sale options for PE investors
Cross-border PE: The ASEAN angle
Ambitions of building scale underpin many private equity investments in Southeast Asia. It is remarkable – although perhaps unsurprising – how few have succeeded. So far, at least.
Temasek ups investment pace, boosts unlisted exposure
Temasek Holdings’ exposure to unlisted assets reached a record high as the state-controlled Singaporean fund made S$24 billion ($19.3 billion) in new investments for the year ended March 2014, the most in six years.
New Australian crowd-funding platform set for launch
A new equity crowdfunding platform called Equitise is being launched in Australia.
Morgan Stanley PE Asia closes Fund IV at $1.7b
Morgan Stanley Private Equity Asia (MSPEA) has closed its fourth Asian fund at approximately $1.7 billion. The vehicle launched in mid-2012 with a target of $1.5 billion and reached a first close later that year of around $750 million.
Town Health International Medical to invest in Chinese PE fund
Town Health International Medical Group, a Hong Kong-listed dental clinics operator, has contributed RMB15.5 million ($2.5 million) to a PE fund launched by a unit of the Guizhou provincial government.
NewQuest closes Fund II, prepares for hydropower take-private
NewQuest Capital Partners has reached a final close of $316 million on its second pan-Asia fund, exceeding the $300 million target. The announcement comes as the secondaries specialist is poised to take private US-listed China Hydroelectric in a deal...
Emerging markets fail to meet LP expectations – research
Emerging markets GPs have fallen substantially short of LP expectations, with top quartile funds achieving the desired 16% IRR in just two out of nine years between 2000 and 2011, according to new research.
FATCA compliance: A ticking clock
As of July 1, PE firms were supposed to have taken the first step towards compliance with the US Foreign Account Tax Compliance Act (FATCA). Few in Asia can exist beyond the regulatory web
Inside fundraising: Gleanings from the first half of 2014
At the halfway point of 2014, what do the private equity fundraising numbers tell us? According to provisional data from AVCJ Research, 82 funds have reached incremental or final closes worth $23.6 billion so far this year. This compares to $25.5 billion...
China's NSSF investment return 6.2% in 2013
China’s National Social Security Fund (NSSF) reported a 6.2% investment return last year, down from 7% in 2012.
Cathay Capital reaches $629m first close on Sino-French fund
Cathay Capital has reached a EUR460 million ($629 million) first close on its latest Sino-French fund which has a final target of EUR500 million.
Japan's Rakuten launches $100m global VC fund
Rakuten Ventures - the corporate VC arm of Japanese e-commerce giant Rakuten - has launched a $100 million fund targeting start-ups in Asia Pacific, Israel and the US.
Bertelsmann backs India's Nirvana Ventures
Global media group Bertelsmann has made an LP commitment to Digital Nirvana Fund, an India-focused vehicle that supports start-ups in the digital space.
AVCJ daily bulletin returns July 2
There will be no AVCJ bulletin on Tuesday July 1 due to a public holiday marking the establishment of Hong Kong Special Administrative Region.
Japan LPs give mixed views on co-investment - AVCJ Forum
More Japanese LPs are recognizing the importance of co-investment for driving returns but some are still put off by the potential risks.