Industry
AVCJ China Awards: RMB Fundraising of the Year – Cowin Capital
After barely three months in the market, Shenzhen-based Cowin Capital successfully closed its Nanhai Growth Fund V in June 2011 at a total of RMB2.5 billion ($393 million). The vehicle took the VC firm’s total assets under management past RMB7.5 billion.
AVCJ China Awards: VC Deal of the Year – Dianping.com
As China’s leading restaurant reviews website, Dianping.com has developed a business model that is difficult for others to replicate. VC backers TrustBridge, Lightspeed, Sequoia and Qiming don’t expect this to change
AVCJ China Awards: PE Deal of the Year – Alibaba Group
Silver Lake started building relations with Alibaba Group almost as soon as it launched its Asia operations in 2008. It was the logical thing to do: the private equity firm assiduously builds relationships with senior management at most of the world’s...
Australia’s old media: Where did it all go wrong?
Traditional media in Australia has been colonized by buyout houses since 2006, but a number of these assets are now in distress. Can private equity use this situation to its advantage?
AVCJ China Awards: PE Exit of the Year – Beijing Leader & Harvest
Much is made of the commercial implications of China’s clean energy drive. The government has pledged to reduce carbon dioxide emissions and energy intensity, promote industrial efficiency and minimize industrial pollution, protect forests, curb motor...
AVCJ China Awards: PE Professional of the Year – David Liu
David Liu, KKR member and head of the firm’s China operations, explains how the drop in public market valuations has created a swath of deal-making opportunities
AVCJ China Awards: Firm of the Year – Hony Capital
Hony Capital further endorsed its claim to be China’s preeminent domestic PE firm, raising a $2.4 billion US dollar fund and securing some landmark investments
Rise of the China PIPE deal
It has taken Indian fund managers years to convince their LPs of the merits of PIPE deals, and efforts haven’t been wholly successful. The knee-jerk response, “Why should I pay you fees to invest in companies that I could just invest in myself?”...
Eminent Venture Capital raises $34m cleantech fund
Eminent Venture Capital, an investment arm of TaiAn Technologies, has raised over NT$1 billion ($33.5 million) for its new biotechnology and green energy fund.
Cathay Life Insurance invests $30m in KKR’s Asian fund
Cathay Life Insurance has committed $30 million to KKR’s second pan-Asian fund, which has a target of $6 billion. Cathay Financial Holding, the Taiwan insurer’s parent company, announced the investment in a stock exchange filing dated June 11.
Serasi’s Veronica John joins Mekong Capital
Veronica John, founder of Serasi Capital and formerly CEO of IDFC Capital, has joined Mekong Capital as a senior advisor. She is responsible for various aspects of the Vietnam-focused GP’s operations, including investments, fundraising and private equity...
LaSalle Investment to raise $700m Asia property fund
LaSalle Investment Management, a unit of Chicago-based Jones Lang LaSalle, is seeking to raise $700 million for an Asia Pacific property fund.
Blackrock hires Asia Pacific vice-chair
BlackRock has hired Philipp Hildebrand as vice chairman for Asia Pacific and EMEA. He will oversee the firm’s largest institutional client relationships in these regions.
Renminbi funds face a new reality
“Do you know a company called [name redacted]?” the colleague asked on the phone. “Yes,” I replied. I had been familiar with the firm and its business model for several years. It is a relatively small outfit based in Shanghai, not widely known...
China to expand insurers' investment scope
The China Insurance Regulatory Commission (CIRC) is likely to announce a new set of rules allowing insurers to expand their investment scope in order to diversify portfolios. As part of the move, the ceiling for domestic private equity investments will...
Renminbi funds face a new reality
“Do you know a company called [name redacted]?” the colleague asked on the phone. “Yes,” I replied. I had been familiar with the firm and its business model for several years. It is a relatively small outfit based in Shanghai, not widely known...
Paul Weiss hires Spencer Park for Asia PE, M&A practice
Paul Weiss has appointed Spencer Park as counsel to its private equity and M&A practice in Asia. Based in Hong Kong, he will work on private equity, credit and real estate transactions across the region.
San Diego pension fund commits $50m to FountainVest
The San Diego County Employees Retirement Association (SDCERA) has committed $50 million to FountainVest China Growth Capital Fund II. FountainVest Partners, set up by former Temasek Holdings executives in 2007, raised $950 million for its first vehicle...
Innovative intermediaries: China's boutique advisors
Boutique corporate financial advisors are expanding in China, taking advantage of deals that lie beyond the reach of global investment banks. In the absence of pre-IPO deals, future success relies on differentiation
TPG secures pact with Korea’s Vogo
Comparisons between TPG’s tie-ups with Northstar and Vogo are flawed – one is fully formalized, the other is loose. But the private equity firm does appear ready to re-engage with South Korea after a long absence
VCs park their cash in Indian taxi firms
Venture investment in Indian taxi companies is no new phenomenon, but the profile of the firms which are commanding capital appears to be changing
Qantas appoints Macquarie to defend against PE bids
Qantas Airways has hired Macquarie Group to set up an internal team “to advise on the defense against potential private equity bids,” a company spokesman has confirmed. The news prompted an 11% spike in the airline’s share price to A$1.08 during...
NSSF to boost investment in PE funds
China's National Council for Social Security Fund (NSSF) will boost its commitments in private equity funds by more than 50% in 2012, in a move to enhance investment returns.
Vermont state pension funds commit $75m to HarbourVest
A HarbourVest Partners fund targeting Europe, Asia and emerging markets has received a $10 million commitment from the Vermont Pension Investment Committee (VPIC). It is part of a $75 million investment by the committee, which represents pension funds...