Industry
Apollo, ICICI Venture near $350m first close on distressed fund
Apollo Global Management and ICICI Venture are close to raising $350 million to invest in Indian distressed assets. The size of vehicle is expected to reach $750 million eventually.
China encourages private investment in banking sector
China will allow private capital to invest in banks on an equal footing to other forms of capital. The move, which in theory will see substantial barriers to PE involvement in the industry, comes as the government opens up certain state-controlled and...
Malaysia launches MyCreative Venture Capital
The Malaysian government will launch a MYR200 million ($63 million) fund to support businesses operating in the country’s creative content sector.
China Life injects $315m into CITIC PE's RMB fund
China Life Insurance has injected RMB2 billion ($315 million) into CITIC Private Equity's renminbi-denominated fund. It comes after the insurance giant invested RMB1.5 billion in Hony Capital's most recent vehicle, a source close to the fundraising activity...
CIC poised to invest $2b in Alibaba Group – report
China Investment Corp. (CIC) may take a $2 billion stake in Alibaba Group in order to finance the Chinese internet company’s purchase of a 20% stake in itself from Yahoo. Last week, Alibaba agreed to purchase half of Yahoo’s 40% holding for $7.1 billion...
Crest Capital acquires 51% of Australia's Questus
Singapore-based Crest Capital Asia has agreed to recapitalize Western Australia’s Questus in exchange for a 51% stake in the investment company.
Franklin Templeton raises $319m global real estate fund
Franklin Templeton has closed its latest real estate fund at $319.2 million, exceeding the initial target of $300 million.
KKR adds two India firms to green portfolio program
KKR India portfolio companies Bharti Infratel and Dalmia Bharat Cement are among the new additions to the private equity firm’s green portfolio program. The initiative, which now covers about 30% of KKR’s global portfolio, is designed to identify opportunities...
Ambit Pragma pases halfway point in fundraising for second vehicle
Indian venture capital firm Ambit Pragma has raised $77 million for its second fund. Ambit Pragma Fund II has a final target of $150 million and is expected to close by March 2013.
Private equity in China: Enemy of the state?
The likes of Hony Capital and CITIC Capital have made a name for themselves by turning around loss-making state-owned enterprises. Although lucrative, this area is not for PE firms that are either too foreign or too faint-hearted
Jie Huang to join Cadwalader's Beijing office
Cadwalader has hired Jie Huang as special counsel in its Beijing office. Huang joins from Telstra Corp, where she was general counsel to the Australian company's China business unit.
KKR raises one-third of $6b Asia fund – report
KKR has reportedly attracted commitments of $2 billion in the first round of capital raising for its new Asia fund, which has a final target of as much as $6 billion. The news comes after The Carlyle Group made initial approaches to investors regarding...
Foreign RMB funds at a crossroads
Apparent confirmation that foreign-invested renminbi funds can’t qualify for local treatment has left the leading overseas private equity firms in a quandary. Life has become harder, but all is not lost
Bridging the gap: China fund T&Cs
Differences between the Chinese and US private equity markets are reflected in fund terms and conditions. LPs that back managers operating US dollar and renminbi funds should look carefully at the small print
Russia builds PE ties with China
Russia and China’s sovereign wealth funds have joined forces to boost cross-border trade. For Moscow, it is a much-needed opportunity to diversify the economy and attract more foreign investment
VIDEO: Advent Private Capital's Rupert Harrington
Western Australia is the country's fourth-largest state by population but the richest by natural resources and this has seen it emerge as the primary source of economic growth. This shift in momentum from east coast to west – coupled with the cyclical...
India funds given six months to comply with new regulations
Indian private equity funds have been given a six-month window to comply with new rules governing alternative investment funds (AIFs). While existing vehicles are free to complete their investment cycles, they will not be able to raise fresh capital until...
Kobre & Kim to advise Chinese financial firms from BVI office
Kobre & Kim, the conflict-free litigation boutique focusing solely on cross-border disputes, has announced the opening of an office in the British Virgin Islands.China is expected to be a key focus for the practice.
Ironbridge targets $1b for Fund III, invests $95m in dental business
Australian private equity house Ironbridge Capital has said it will target up to A$1 billion ($1 billion) for its third fund, for which it will begin fundraising in the second half of this year.
CIPEF closes emerging markets fund at $3b
Capital International has closed its sixth emerging markets private equity fund at its hard cap of $3 billion, making it the largest vehicle of its kind to be raised in the last five years.
Armstrong launches SE Asia cleantech fund
Southeast Asia has abundant solar radiation, agricultural resources and biomass when compared to North Asian and European countries. However, the use of clean energy in the region is still somewhat limited. Singapore-based clean energy asset manager Armstrong...
FX hedging: Know your risk
Private equity firms are hedging the currency risk of their investments in Asia Pacific longer and later in the investment cycle than ever before
Indian infrastructure funds face rocky road ahead
Private equity has been one of the engines for India’s infrastructure growth, but delays in project approvals, inexperienced GPs and the tough fundraising environment remain hurdles to overcome
Asian PE infrastructure evolves with the industry
Everything always seems clearer and easier to understand with the benefit of hindsight. While it seems pretty apparent now that Asian private equity would emerge as a leading asset class for investors around the world, it was actually quite difficult...