Industry
CVC consortium wins first approval for Malaysia KFC bid
A $1.7 billion take-private bid by a CVC Capital Partners-led consortium for Malaysia's two main KFC fast food franchisees won its first approval from shareholders yesterday.
Paul Hastings opens Seoul office
Paul Hastings has opened an office in Seoul, its 20th location globally. It follows a number of international law firms in setting up a presence in South Korea.
Shareholders to vote against Malaysia's KFC take-private bid
A $1.7 billion bid by CVC Capital Partners and the Malaysian state of Johor for the country's two main KFC fast food franchisees has met with opposition from investors.
Sequoia India invests $6.1m in pathology chain
Sequioa Capital has invested INR400million ($7.5 million) in Indian pathology services provider Suburban Diagnositic for a 30% stake.
CDIB to set up a private equity fund in China
Taipei-based China Development Industrial Bank (CDIB), the investment banking unit of China Development Financial Holding, has teamed up with China’s state-owned Jiangsu High-Tech Investment Group to set up a RMB2 billion ($321 million) PE fund.
CIC buys stake in Heathrow Airport Holdings
China investment Corporation (CIC) has bought a 10% stake in Heathrow Airport Holdings from Spanish builder Ferrovial and other investors for GBP450 million ($725 million).
PE investors inject $50m into Huaxia Dairy
Olympus Capital has led a group investors including California Technology Ventures, Herostar Holdings and Grand River Capital in committing $50 million stake in Chinese milk producer Huaxia Dairy Farm.
KV Asia reaches first close of more than $100m
KV Asia Capital has reached a first close on its debut fund of more than $100 million. The full target is $250 million, which will be deployed in Southeast Asia, with Indonesia expected to feature prominently.
Australia's fundraising rebounds with foreign investor support
The fiscal year ended June 2012 was reportedly the best fundraising year for the Australian private equity and venture capital industry since 2007-2008, with more than A$3.3 billion ($3.4 billion) raised by 21 funds.
GE Capital to invest in Biocon's research services subsidiary
GE capital, the private equity arm of General Electric, has agreed to invest INR1.25 billion ($23 million) for a 7.69% stake in Syngene, a subsidiary of India’s Biocon.
ClearVue leads $20m round for Chinese beauty brand
Lumi, a leading nutritional beauty products firm in China, has raised RMB120 million ($20 million) of Series B funding led by ClearVue Partners. Fidelity, JAFCO and Capvent also participated in the round, along with existing shareholder, DCM.
CIRC implements new rule on foreign PE investments
The China Insurance Regulatory Commission (CIRC) has issued the long-awaited regulation on overseas investments made by domestic insurers, including commitments to private equity funds. Qualified insurance companies are now permitted to invest in 25 developed...
How much is too much?
KKR had received commitments of $6.2 billion for its 11th North American fund as of the end of September. The vehicle, which entered the market in early 2011, has attracted about $700 million from LPs in the last six months and questions are being asked...
Japan's CyberAgent invests in Taiwanese start-up
CyberAgent Ventures has invested $500,000 in Polydice, the Taiwanese start-up behind recipe-themed social network iCook.tw
Carlyle to buy Diversey Japan from Sealed Air
The Carlyle Group has agreed to by Japanese sanitation business Diversey Japan from the Sealed Air Corporation for JPY30 billion ($377 million).
Squadron joins forces with FLAG
The future of independent Asian fund-of-funds has long been a matter for debate if only due to the resource pressures. Fundraising can be a protracted process, which means some people spend long periods on the road; stricter compliance requirements are...
Japan's NTT DoCoMo to set up $125m venture fund
Japanese mobile giant NTT DoCoMo is to set up a venture fund and incubation program targeting mobile business models and technologies.
Hedge fund Dymon branches into PE – report
Hedge fund manager Dymon Asia Capital is said to have launched a private equity vehicle with support from Singaporean sovereign wealth fund Temasek Holdings. It is the latest in a string of managers to offer both hedge fund and PE strategies under one...
KPMG opens Myanmar office
KPMG is opening an office in Myanmar, becoming the first of the Big Four accounting firms to establish a presence in the frontier market.
Taiwan's SinoPac to enter fund admin business
Taiwanese financial services company SinoPac plans to set up a fund administration unit in Hong Kong targeting private equity and hedge funds with less than $100 million in assets under management.
CVC names three co-chairmen to succeed Michael Smith
CVC Capital Partners’ chairman, Michael Smith, will retire in January and be succeeded by Donald Mackenzie, Rolly van Rappard and Steve Koltes. The announcement comes as the private equity firm prepares to launch its latest global buyout fund with a target...
Clifford Chance appoints new head of Asia Pacific corporate practice
Clifford Chance has named Mark Shipman as the new head of its Asia Pacific corporate practice, replacing Roger Denny, who is stepping down after 10 years. Shipman will continue to lead the firm’s global funds and investment management practice, while...
Japan mulls bank rule change, prompts protectionist fears
The Japanese Government is considering altering regulations to allow banks to own larger stakes in Japanese companies, prompting fears of protectionism among the private equity community.
Freshfields promotes Shanghai PE lawyer to counsel
International law firm Freshfields Bruckhaus Deringer has promoted Christian Zeppezauer from its corporate practice in Shanghai to the role of counsel.