Industry
Carlyle backs China Forestry despite damning report
The Carlyle Group believes troubled portfolio company China Forestry Holdings still holds value despite the firm admitting last week that it was only able to account for 1% of its historical sales. Hong Kong-listed China Forestry has been suspended from...
PE’s positive role in China
Private equity has a far reaching impact in China’s economic, social and environmental spheres, according to Bain & Company’s Michael Thorneman, Weiwen Han and Hao Zhou
PE firms lag behind VCs in adopting social media
Venture capital firms have long embraced social media for everything from networking with entrepreneurs to sparking dialogue about industry trends. Why are private equity players so slow to join in?
India hospitals: Capital cure
Badly in need of consolidation and infrastructure investment, India’s hospital chains are an attractive target for private equity. But identifying suitable targets and getting them to scale up remains a challenge
AVCJ daily bulletin returns May 2
There will be no AVCJ daily bulletin on Tuesday May 1 due to the Labor Day public holiday in Hong Kong.
Xander completes $40m buyout of Indian office site
Xander Real Estate Partners, the property-focused PE arm of global investment firm The Xander Group, has acquired a Grade A office park in Chennai for $40 million from Appaswamy Real Estates.
Russia, China confirm $4b joint investment fund
Russia and China have confirmed plans for a joint $4 billion investment fund, which will be backed by initial $1 billion contributions from their respective sovereign wealth vehicles. Progress on the fund was announced at an economic forum in Moscow attended...
China consider capital gains tax for PE funds
China's central government is planning to impose a 35-40% capital gains tax on investments made by private equity and venture capital funds, as part of the effort to streamline its taxation system for such vehicles.
Ekuinas completes buyout of Tanjung’s marine vessel assets
Ekuinas, the Malaysian sovereign wealth fund, will buy the 76% of Tanjung Offshore’s marine vessel services arm it doesn’t already own for MYR220 million ($72.5 million) in cash. The asset, Tanjung Kapal Services (TKS), operates 16 offshore vessels...
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
DLA Piper appoints Bob Charlton as head of Asia Pacific
DLA Piper has appointed Bob Charlton as managing director for Asia Pacific. He is replacing Alastair Da Costa, who is returning to the UK after five years heading up the law firm’s business in the region. Charlton will start his new role on May 1 and...
Qiming invests $15 million in TutorGroup
Qiming Venture Partners has invested $15 million in Chinese online language tutoring company TutorGroup. The capital will be used to expand the company's service delivery capacity throughout the country.
Advantage Partners has no plans for new fund – report
Advantage Partners told an investor meeting Wednesday that it has no immediate plans to launch a new fund even though the investment period for its existing vehicle is due to end in the summer.
ADIA hires Axa executive for emerging markets PE
Abu Dhabi Investment Authority (ADIA) has poached Axa Private Equity COO Christophe Florin to head up its emerging markets private equity team. He led Axa’s Asian operations between 2005 and 2008.
Sidbi raises $128m for India Opportunity Fund
Sidbi Venture Capital Fund is nearing the close of its India Opportunity Fund, having just received a commitment of INR6.7 billion ($128 million) from financial institutions.
Taiwan's GVT Fund leads Series E round in LED Engin
Taiwan-based GVT Fund, which is sponsored by Industrial Technology Investment Company, has led a Series E funding round in LED Engin, a California-based solid-state lighting company specializing in LED components and optics.
CIC gets a further $50b from Beijing
China Investment Corp. (CIC) has secured an additional $50 billion in capital from the government, having already received a $30 billion late last year.
Tan-EU Capital acquires Chinese retail site
SOTAN China Real Estate I, the $400 million fund co-managed by Hong Kong-based real estate private equity firm Tan-EU Capital, has made its first China investment.
Noah launches China real estate fund
China's rapid economic expansion over the past decade has created a large pool of millionaires but onshore investment options remain limited. Those keen to avoid negative real interest on bank deposits, have traditionally put their money into stocks (at...
Maui Capital appeals to the masses
Between now and the end of May, around 900 New Zealand investors are expected to sign up as LPs in Maui Capital’s new fund. With commitments ranging from NZ$100,000 ($81,000) to NZ$20 million, they are only expected to account for around two thirds...
Comply or die? GPs, technology and reporting standards
Fund managers are dealing with the challenges of an increasingly demanding LP base. Asian GPs looking for institutional money must invest in compliance or rely on their track records to carry them through
Washington State Investment Board re-ups in FountainVest
Washington State Investment Board has committed $150 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 four years ago and is targeting...
China’s Fangda poaches Freshfields partner to lead HK office
Chinese law firm Fangda Partners has hired Freshfields litigation partner Peter Yuen to head up its new office in Hong Kong, which is set to open in June. This will be the firm's first location outside of mainland China.
India considers capital gains tax cut for PE investors – report
India’s Finance Ministry is reportedly considering a move to halve the long-term capital gains tax imposed on private equity investors to 10%. It is seen as an effort to shore up PE interest at a time when there is considerable uncertainty about the...