Industry
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 and not...
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 morning...
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...
Maui Capital closes fund at $190m hard-cap
Maui Capital has closed its Aqua fund at its hard-cap of NZ$250 million ($190 million). The New Zealand-based private equity firm had to turn away some larger investors.
SBI, FMO launch $80m financial services fund
Japan's SBI Holdings and Netherlands Development Finance Company (FMO) have jointly rolled out a new fund that will invest in financial services across emerging Asia. The SBI-FMO Emerging Asian Financial Services Fund is targeting up to $80 million in...
Art and wine funds: The Passion Portfolio
The increase in wealth creation in China has created a generation of HNW individuals intent on investing in art. But can the momentum behind this so-called emotional asset class be sustained?
Q&A: Fosun Group's Xinjun Liang
Xinjun Liang, vice-chairman and CEO of Fosun Group, discusses the rationale for launching private equity funds, and the edge the company has over its competitors.
Cooley hires two in Shanghai office
US-based Cooley announced on Wednesday the additions to its Shanghai office of Christina Zhang and Benjamin Qiu as partner and associate respectively, in a move to expand the law firm’s footprint into China.
GSR closes $133m later-stage fund
VC firm GSR Ventures has closed its GSR Opportunities IV fund on $133 million. The vehicle will give existing LPs in GSR’s first four funds the chance to invest in follow-on rounds with top-performing investee companies.
LPs raise concerns over GPs' ability to bring good returns - AVCJ China Forum
One of the key issues in China’s private equity space is whether GPs can maintain the robust returns they made in their previous investments amid quieter IPO markets and tightening regulations. LPs who participated in AVCJ China Forum 2012 continue to...
KKR receives $225m from Oregon Investment Council
KKR has won a $225 million commitment from the Oregon Investment Council for its second Asia buyout fund. The buyout firm is currently raising around $6 billion for its KKR Asian Fund II, which will invest across the region.
SBI, FMO to launch $80m emerging Asia financial fund
Japan’s SBI Holdings and Netherlands Development Finance Company (FMO) will jointly roll out a new fund to invest in financial services across emerging Asia. The fund will have a target size of up to $80 million and is seeking a first close of $60 million....
Hony, KKR scoop major prizes at AVCJ China Awards
Hony Capital led the way at the 2012 AVCJ Private Equity & Venture Capital Awards China, retaining its title as Firm of the Year and claiming the prize for US dollar fundraising. David Liu, China head of KKR, was named Private Equity Professional of the...
Bain to target $6b for global fund
Bain Capital has set a target of $6 billion for its new global buyout vehicle, for which it plans to offer three fee options in a bid to attract a more diverse range of LPs.
Profile: Dominic Scriven of Dragon Capital
Dragon Capital’s Dominic Scriven settled in his adopted country of Vietnam when it was still a frontier market. Twenty years on, he remains active in the country’s private equity and cultural communities
Indian family offices add to GPs' options
An increasing number of Indian PE firms are tapping local family offices for capital. Will this new wave of investors stick with the asset class in the long term?
Sequoia Capital raising $1b for funds – report
Sequoia Capital has reportedly hit the fundraising trail again, and plans to raise at least $1 billion for a series of funds, including a China-focused vehicle.
Regional funds and global LPs
One week out of every month, a certain Asia-based fund manager embarks on a trip that takes in three board meetings in three different countries. At each hotel, a packet of documents awaits, which must be reviewed before each meeting. Once he returns...