Industry
Apollo launches two Asia real estate funds
Apollo Global Management has launched two funds that will invest in commercial real estate in Asia, seeking up to $750 million in capital. It comes barely three months after the private equity firm disclosed that it has raised about $255 million for an...
China's NDRC backs Gobi’s second RMB fund
China’s National Development Reform Commission (NDRC) has invested RMB50 million ($7.9 million) in Gobi Partners' second renminbi-denominated fund. The latest injection takes the Yingzhi RMB Fund to RMB350 million in size.
Silk Road Finance enters Myanmar
Frontier markets-focused investment bank Silk Road Finance has set up a Myanmar subsidiary and won a mandate to raise a private equity and venture capital fund dedicated to investing in the country.
Ping An launches $157m venture capital fund
Ping An Insurance, the world's second-largest life insurer by market value, has established a RMB1 billion ($157 million) venture capital fund. It will target sectors including financial services, consumer products, healthcare, automobiles and tech, media...
Woori launches $495m PE fund with Posco, EIG
Korea’s Woori Asset Management has launched a private equity fund in partnership with domestic steelmaker Posco and US-based EIG Global Energy Partners. The vehicle was created in February and has a target size of KRW560 billion ($495 million), with...
GIC boosts cash exposure, warns of global volatility
Government of Singapore Investment Corp’s (GIC) exposure to alternative assets remained unchanged during the year ended March 2012 as cash reserves rose steeply at the expense of fixed income and developed market public equities holdings.
Asia fundraising: A box-checking exercise
Was I surprised last week to find out that FountainVest Partners had accumulated more than 80% of the capital targeted for its second China fund after less than five months on the road? Not particularly. In a difficult fundraising environment, this particular...
LP interview: New York State Common Retirement Fund
New York State Common Retirement Fund has put scandals behind it and, buoyed by two years of positive performance and limited liabilities overhand, is looking to boost Asia private equity exposure
Clearwater gets $575m for fund IV
Profit warnings issued by Chinese companies in recent weeks suggest that the corporate sector is feeling the effects of slowing economic growth. Industrial profit was down 2.2% in the first half of 2012, compared to a 28.7% gain in the corresponding period...
LPs endorse Kerogen’s Asia energy strategy
Barely 48 hours before Kerogen Capital announced a final close of just over $1 billion for its debut fund, the PE firm received two endorsements of its investment thesis. First, CNOOC agreed to buy Canadian oil and gas major Nexen for $15.1 billion plus...
KBank to launch Thailand's first infrastructure fund
Kasikornbank, the financial adviser to Solar Power, a subsidiary of Thailand's biggest solar-farm developer SPCG, is in the process of raising the country's first infrastructure fund. It is targeting THB5 billion ($158 million).
China relaxes QFII rules to include private equity
Private equity firms will be allowed to apply for licenses under China's Qualified Foreign Institutional Investor (QFII) program, offering greater freedom to invest in domestic debt and equities. The move is part of wider efforts to open up and liberalize...
Bedell Cristin to offer BVI legal services from Singapore
International law firm Bedell Cristin has opened an office in Singapore from which it will provide British Virgin Islands (BVI) legal services to clients throughout Asia. Stephen Adams, who joined Bedell from BVI law firm Barker Adams at the beginning...
SAFE commits $500m to Blackstone property fund – report
China’s State Administration of Foreign Exchange (SAFE) has reportedly committed $500 million to The Blackstone Group’s latest real estate private equity fund. Blackstone Real Estate Partners VII has proved popular with investors and Stephen Schwarzman,...
Morrison & Co raising $1b for NZ infra fund
Australasian infrastructure investor Morrison & Co. is reportedly looking to raise up to $1 billion for a private equity fund that will target low-risk global infrastructure projects.
CIC doubles alternatives exposure, posts loss for 2011
China Investment Corporation (CIC) doubled its exposure to private equity, direct investments and hedge funds in 2011 but market volatility saw the sovereign wealth fund’s global portfolio retract by 4.3%, contributing to its first-ever annual loss....
China allows insurers to double private equity exposure
The China Insurance Regulatory Commission (CIRC) has allowed insurers to invest up to 10% of their total assets in private equity. Investment in the asset class was previously capped at 5%. The move is expected to see $50 billion of fresh capital injected...
Baring PE India could raise $700m fourth fund – report
Baring Private Equity Partners India is reportedly considering the launch of a fourth fund by 2014 that would target $500-700 million. The vehicle’s main focus would be high-growth sectors.
America’s Skybridge to launch $500m Asia vehicle
US alternative investment manager SkyBridge Capital is planning to launch an Asia-focused fund next year worth $250-500 million, according to the firm’s founder.
Clearwater reaches final close of $575m on fourth fund
Clearwater Capital Partners has closed its latest Asia credit and special situations fund at $575 million. It is the first time the private equity firm has gone to the market since 2007, when it raised a greater-than-expected $900 million for Clearwater...
VIDEO: Archer Capital's Greg Minton
Australian fund managers need to go offshore to raise capital – but only if they are targeting large funds, says Greg Minton, managing director at Archer Capital. “In fund IV we got about A$740 million from the domestic market and about the same again...
Australia’s lower mid-market retains its appeal
Successful fundraises by CHAMP Ventures and Archer Capital Growth Funds suggest that foreign LPs are willing to fill the gap left by Australian institutions. Performance and consistency remain the key factors
The US invasion: Competition rises among Asia PE legal counsel
A host of US law firms are boosting their Asian operations with a view to offering private equity clients a full suite of services, from fund formation to capital markets. Is there enough business to go around?
James Fong joins Mayer Brown JSM as partner
Global law firm Mayer Brown JSM has appointed James Fong as partner in its corporate and securities practice. He joins from Hogan Lovells, where he became a partner in 2010.