Industry
New software helps LPs with benchmarking
EFront has launched an LP-focused performance and risk optimization solution that allows users to generate their own custom-weighted benchmarks.
Kerogen Capital raises $1b for debut energy fund
Kerogen Capital has reached a final close in excess of $1 billion for its debut energy-focused fund. Investors include North American foundations and endowments, family offices, fund-of-funds, an affiliate of a Middle East sovereign wealth fund, and investors...
FountainVest reaches first close of $1b on second China fund
FountainVest Partners has reached a first close of just over $1 billion on its second China-focused fund. The vehicle has only been in the market for about four months, but it is already nearing its full target of $1.25 billion. Sources familiar with...
Atlantic-Pacific Capital appoints new CEO
Mark Bourgeois has been appointed CEO and president of Atlantic-Pacific Capital, the global placement agent and advisory firm. He was previously CEO of Credit Suisse’s asset management group in the Americas, with responsibility for funds in which the...
Chinese insurers to outsource investment management
The China Insurance Regulatory Commission (CIRC) will allow insurance companies to outsource their investment management businesses to brokerages and fund houses as part of efforts to diversify investment channels.
Warburg sues Titan Petrochemicals in Hong Kong
Warburg Pincus has sued portfolio company Titan Petrochemicals Group and some of its executives in Hong Kong’s High Court, citing misrepresentation and breaches of contract. This comes as the debt-laden shipping and oil storage firm continues talks...
Coller closes new secondaries fund above target at $5.5b
Coller Capital has reached a final close of $5.5 billion on its latest global secondaries fund. The new vehicle is larger than its predecessor, which closed in 2007 at $4.8 billion, and above the initial fundraising target of $5 billion. The fund has...
Identifying good GPs is biggest LP challenge in SE Asia - AVCJ Singapore Forum
Finding the right fund manager is the greatest challenge facing LPs investing into Southeast Asia, according to panelists at the AVCJ Forum in Singapore on Thursday. The second greatest challenge is ensuring they remain the right managers.
China Mining United to raise second investment fund
China Mining United Fund (CMUF), a Beijing-based private investment company focuses on mining-related investments, is planning to raise a second fund to target offshore iron-ore and metal companies.
Indonesia caps foreign ownership of local banks at 40%
Foreign ownership of Indonesian banks will be capped at 40%, although exceptions will be made for listed banks with strong financial health and high levels of tier-one capital. On this basis, it appears that DBS Group’s $7.2 billion bid for Bank Danamon...
Saratoga aims for differentiation
When Saratoga Capital was preparing to launch its third fund in July 2011, the elephant in the room was Northstar Pacific Partners. A few months earlier Northstar closed its own third fund at $820 million. Would LPs still be keen on when Saratoga came...
Hony bets on China convertibility experiment
Hony Capital is set to become the first private equity player to enter the Shenzhen-Qianhai new business zone, a pilot project for greater renminbi convertibility. John Zhao, Hony’s CEO, said the company may raise its next renminbi-denominated fund...
Leopard Capital reaches $20m first close on Haiti fund
Southeast Asia-focused frontier investor Leopard Capital has reached a first close of $20 million on the first dedicated Haiti fund raised since the 2010 earthquake. The final target is $40-75 million.
China secondaries: Fresh start or false start?
China’s PE Secondary Market Development Alliance is meant to facilitate the trading of LP interests in renminbi funds. The absence of local expertise, portfolio transparency and mature LPs are obstacles to this.
Bain closes second Asia fund at $2.3b
A host of leading PE firms is in the market, seeking to raise pan-Asia funds of $2 billion or more. Last week, Bain Capital became the first to cross the finish line. Its second regional fund closed at $2.3 billion, roughly halfway between the initial...
Cornerstone investors: Public market props
Weak investor sentiment means that many Asian IPOs need cornerstone investors to cover part of the offering and provide momentum. Why are private equity firms getting in on the action?
Munich Private Equity Partners opens office in Shanghai
Munich Private Equity Partners (MPEP) has opened an office in Shanghai as it looks to increase investment allocations to Asian markets.
Pantheon closes sixth Asia fund at over $700m
Pantheon has secured more than $700 million for its sixth Asia-focused fund-of-funds, sources confirmed to AVCJ. The amount raised for Pantheon Asia Fund VI surpasses earlier speculations which put the amount at $500-600 million.
KKR-backed Seven West launches $450m share issue
KKR investee Seven West Media plans to raise approximately A$440 million ($450 million) through the sale of new shares in order to reduce debt levels. The Australian company, which owns the Seven free-to-air network, the country’s second-largest magazine...
VIDEO: Clifford Chance's Lee Taylor
Indonesia has aroused enormous interest among foreign investors but valuations remain an issue, according to Lee Taylor, a partner with Clifford Chance in Singapore. There have been huge dislocations between buyers and sellers generally since the global...
CDH Investments to raise $350m VC fund - report
CDH Investments is reportedly in the process of raising a new venture capital fund worth $300-350 million. The fundraising is expected to reach a final close by the end of this year.
Ontario Teachers to up India exposure, back Kedaara Capital
Ontario Teachers’ Pension Plan (OTPP) plans to increase its allocations to India and Latin America in order to diversify its emerging markets exposure, which is currently more weighted towards China. The pension plan’s first India commitment was to...
India PE lawyer joins Dacheng Wong Alliance
India-qualified corporate lawyer Yang Yen Thaw has joined Dacheng Wong Alliance, the Singapore joint venture between China’s Dacheng and Singapore’s Wong Alliance.
PE financing to be targeted in Australia takeover law review
Private equity firms that launch takeover bids for companies without clear financing packages are likely to be targeted in the Australian Securities and Investments Commission’s (ASIC) review of takeover legislation.