Industry
Paul Wang joins Dechert as corporate partner in Beijing
International law firm Dechert has announced that Paul Weidong Wang has joined the firm’s corporate practice as a partner in Beijing.
Carlyle to raise $3.5b for fourth Asia buyout fund
Carlyle Group plans to raise $3.5 billion for its fourth buyout fund in Asia, which would be the private equity firm’s biggest targeting Asia. An initial close is expected to happen in the second half of the year.
Sentient closes fourth fund at $1.3b
The Sentient Group, a private equity firm that focuses on the global metals, minerals and energy sectors, has closed its fourth fund on $1.3 billion.
SDCERA invests $75 million in TPG Asia VI - update
San Diego County Employees Retirement Association (SDCERA) has invested $75 million in TPG's sixth Asia-focused private equity fund.
3i gives up Indian quoted equity plan
3i has dropped the plan to raise a dedicated fund aimed at purchasing stakes in India-listed companies due to a lack of interest from investors.
Carlyle sees earnings drop in Q1
Carlyle’s earnings dropped 26% in the first quarter as the private equity firm reaped lower profits from its investments.
Armstrong to launch a $150m clean energy fund in SE Asia
Armstrong Asset Management, a newly-established Singapore-based clean energy asset manager, is set to launch its maiden fund, which will focus on clean energy projects across Southeast Asia.
BASF Venture Capital invests $5m in Tsing Capital's clean energy fund
BASF Venture Capital, the corporate venture capital arm of global chemical company BASF, has invested $5 million in the China Environment Fund IV managed by Tsing Capital.
LIC holds a first close of real estate fund at $47m
LIC Housing Finance, the mortgage unit of India's biggest insurer, has reached a first close of its maiden real estate private equity fund at INR2.5 billion ($46.5 million).
Cadwalader poaches three lawyers from Jones Day
Cadwalader's Hong Kong office has poached three lawyers - Joseph Lee, Jeffrey Maddox and David Neuville – directly from rival Jones Day.
ChrysCapital closes sixth fund at $510m
ChrysCapital has announced a final close of its sixth fund at the hard cap of $510 million.
Goldstone Investment to launch PE fund
CITIC Securities’ direct investment arm, Goldstone Investment, has gained approval from the China Securities Regulatory Commission (CSRC) to set up a private equity fund. It makes CITIC Securities the second brokerage to win approval to raise and manage...
Vistra launches umbrella fund structure
Vistra Fund Services has launched an umbrella fund structure through which clients can establish segregated portfolio or sub-funds in Hong Kong, the Cayman Islands, the Netherlands and the UK. Known as the Privium Capital Fund, it offers a fast and cost...
Squire Sanders expands Greater China corporate team
Squire Sanders has hired corporate law specialists Jenny Liu and Xudong Ni as partners in its Beijing and Shanghai offices, while Sin Kiu Ng has joined the law firm in Hong Kong.
RMB partnership funds face tax trouble
The Chinese government is preparing legislation that clarifies how GPs and LPs are taxed on gains derived from local currency partnership funds. Clearer guidelines would help, but it likely means a larger tax bill
Man in the middle: Placement agents in Asia
Placement agents are building up resources in Asia as the region becomes more significant as a fundraising location. Some GPs are keen to build long-term relationships, but others take more convincing
ChrysCapital closes fund VI at $510m
In keeping with its conservative approach, ChrysCapital opts for a smaller fund than the last cycle and plans to outsmart the competition by targeting smaller deals
Please vote in the AVCJ China Awards
As the Chinese private equity industry continues to mature, the market has becoming increasingly crowded. The need to distinguish the excellent from the simply good has become more difficult, especially for new LPs and potential portfolio companies, both...
Cast your vote in the 2012 AVCJ China Awards
Voting is now open for the 2012 AVCJ Private Equity & Venture Capital Awards China. From now until May 18, we invite the entire Asia private equity community to single out the top investments, exits, fund raises, firms and professionals from the past...
Regulatory delays add $300m to MBK's CNS price tag
MBK Partners' exit from Taiwanese cable television business CNS could collapse because the prospective buyer is unhappy at how delays in regulatory approvals have added up to NT$10 billion (US$341 million) to the original price tag.
India postpones anti-avoidance rules, cuts capital gains tax for PE
India has postponed the implementation of anti-avoidance legislation, which impacts the tax treatment of offshore structures used to channel capital into the country, and reduced the tax rate on capital gains arising from private equity transactions....
China securities regulator to rein in IPO pricing
The China Securities Regulatory Commission (CSRC) has revised guidelines on new share issuance, requiring the selling party to disclose additional and detailed information if it prices its IPO at a price-to-earnings (P/E) ratio 25% higher than the average...
Foreign RMB funds to be classified as overseas entities
China’s National Development and Reform Commission (NDRC) has decreed that all the capital in renminbi-denominated funds raised by foreign PE firms must come from local investors if they are to be considered domestic entities. Failure to comply means...
CBC sets up Chinese venture with Evernote
China Broadband Capital (CBC) is working with US-based app maker Evernote on a China joint venture. It comes after the PE player led a $70 million Series D investment in the company alongside Meritech Capital.