Industry
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.
China to include private equity in QFII program
The China Securities Regulatory Commission (CSRC) is seeking to include private equity and hedge funds in the country’s Qualified Foreign Institutional Investor (QFII) program.
VIDEO: HarbourVest Partners' Sebastiaan van den Berg
It is a well established trend that Australian LPs are increasingly looking to internationalize their private equity exposure, arguably at the expense of domestic GPs. Foreign investors looking to enter Australia are not deterred. Sebastiaan van den Berg,...
Dutch pension funds invest $122m in Lemon Tree Hotels
Dutch pension fund manager APG has invested INR6.5 billion ($122 million) in Lemon Tree Hotels, India's largest chain of upscale hotels and resorts.
Cleary Gottlieb adds Ling Huang as partner in Beijing office
Global law firm Cleary Gottlieb Steen & Hamilton announced Ling Huang will join the firm as a partner in its Beijing office.
Belgian, Chinese sovereign funds to launch joint vehicle
China Investment Corporation (CIC) is launching a small fund to help domestic companies make investments in Europe in partnership with Belgian Federal Holding Company and A Capital.
Leopard Capital to raise frontier markets PIPE fund
Leopard Capital Management is launching a long-only fund that will target PIPE deals in up to 12 frontier markets in Asia. It will invest in sectors perceived to drive frontier economies, including consumer products, financial services, infrastructure...
Franklin names Robinson-Kok as Asia alternatives head
Franklin Templeton Investments has appointed Gregory Robinson-Kok as head of its alternative investments business in Asia. He is based in Singapore and reports to Kent Strazza, managing director of the alternative strategies group.
Partners Group adds to India direct investment capabilities
Partners Group has appointed Cyrus Driver as a managing director with the brief to strengthen the company’s direct investment activities in India. The move comes as Partners Group seeks to ramp up its direct investment capabilities across the region.
Actis completes full management buyout with $100m deal
The UK government is on course to recoup more than $100 million by exiting its stake in Actis. The private equity firm’s management will buy the government’s 40% holding for GBP8 million ($13 million) in cash and also hand over a portion of the carried...