Industry
PE financing: Lagging leverage
Spooked by wider economic issues, European banks are pulling back from the leveraged buyout market. This presents a further challenge to private equity firms already adjusting to tighter financing conditions
Ownership issues trouble state-backed PE firms
Chinese private equity firms that count government-related entities among their shareholders face uncertainty over their financial obligations to the state
Slow progress for foreign RMB funds
Renminbi-denominated private equity funds have been one of the most important trends in the last few years. The market has grown tremendously with more than US$24 billion being raised in 2011 alone. Most of this capital has gone to local firms, especially...
Elara Capital to launch India-focused healthcare fund
Elara Capital, a UK-based financial services company, is in talks with a counterpart in Dubai with a view to launching a private equity fund that will target healthcare investments in Asia and Africa. India will be a particular area of focus given Elara’s...
Political risk tempers LP appetite for Southeast Asia
Insurgent groups and corrupt governments are every investor’s worst nightmare. For those private equity firms operating in the Philippines and Indonesia, they’re also a reality.
Beacon India acquires 1.3% stake in PE-backed construction firm
Beacon India Private Equity Fund, a $200 Million Indian growth capital vehicle, has acquired a 1.3% stake in NCC, a listed construction and infrastructure enterprise backed by The Blackstone Group and ChrysCapital Advisors. The transaction is worth INR216.4...
Sun Media, Harvest Fund to create $800m media fund
Chinese television production firm Sun Media Group has teamed up with Harvest Fund Management to create an $800 million private equity fund that will back local movies.
PICC rolls out $158m industrial fund
The People's Insurance Company of China is reportedly setting up an industrial fund - the name of which suggests it will focus on the defense sector - worth RMB1 billion ($158 million) under its affiliate PICC Capital Investment Management.
TPG reaches first close of its two RMB funds
TPG Capital has reached a first close of its two China funds, having received commitments of RMB4 billion ($635 million). The private equity firm said that 90% of the capital raised came from private investors rather than government-linked entities. It...
Hutchison Whampoa to acquire Orange Austria
Hutchison 3G, a unit of Hong Kong conglomerate Hutchison Whampoa, agreed to acquire Orange Austria, a mobile telecommunication company owned by France Telecom and buyout firm Mid-Europa Partners.
KKR promotes Clifford Chiu to partner level
Clifford Chiu, who leads KKR’s investor relations, capital raising and capital markets activities in Asia, has been promoted to member, equivalent to partner level. He was previously a managing director at the firm.
Singapore Medical to receive $4.5m from Kendall Court
Singapore Medical Group (SMG) will receive a SGD$5.6 million ($4.5 million) investment from Kendall Court, representing the private equity’s first foray into the healthcare sector.
Holm plans to tap Indonesia's rich
There is no shortage of Indonesia-focused funds seeking capital. Of the established players, Northstar Pacific has already completed fundraising and Saratoga is on course for a final close this year. At least five other first-time GPs are currently in...
Q&A: Hony Capital's John Zhao
Hony Capital has raised a total of $4 billion for its latest renminbi and US dollar funds. John Zhao, CEO of the Chinese private equity firm, tells AVCJ how he plans on spending it
Asian fund-of-funds: In the balance
Do Asian fund-of-funds have the scale and selling points to survive in an increasingly complex and competitive market?
PE and Chinese outbound investment
Who writes CITIC Private Equity's scripts? The day after the conclusion of the World Economic Forum’s annual meeting, where China and its role in the global economy was inevitably an area of focus, it was announced that Sany Heavy Industry would purchase...
Mourant Ozannes opens Hong Kong office
Mourant Ozannes, one of the leading global offshore law firms, has enlarged its footprint in Asia by opening an office in Hong Kong. Three partners have relocated to Asia where they will focus initially on investment funds, corporate and finance work....
CDB fails to land RBS aviation unit despite making highest bid
China Development Bank (CDB) made the highest bid for Royal Bank of Scotland’s aviation-leasing unit but lost out on the transaction due to concerns about its ability to close the deal. The asset was sold to Sumitomo Mitsui Financial Group (SMFG) for...
SBI, Edelweiss create $100m India PIPE fund
SBI Holdings and Edelweiss Financial Services have agreed to set up a fund focused on investments in listed small and mid-cap companies in India. The vehicle, known as EW SBIH Crossover Fund and based in Mauritius, will have initial capital of $100 million,...
3i India invests $61m in Supreme Infrastructure
3i India will pay $61 million for a minority stake in a portfolio of four road companies held by Supreme Infrastructure India (SIIL), a Mumbai-based infrastructure company. The private equity firm will take a 49% stake in SIIL's subsidiary Supreme Infrastructure...
CITIC PE teams up with Sany to acquire Putzmeister - Updated
Sany Heavy Industry, the Chinese construction-equipment maker, and CITIC Private Equity will acquire Putzmeister, a German manufacturer of high-tech concrete pumps, in one of the largest China outbound deals involving a local private equity firm. CITIC...
E&Y: India is world's fourth most attractive FDI destination
India is the fourth most attractive investment destination globally, after the US, China and the UK, according to an Ernst & Young survey. Investors are drawn by the strong potential of the country’s domestic market, cost competitiveness and access to...
FBI searches offices of firm linked to Chinese reverse takeovers
The Federal Bureau of Investigation has conducted a search of the offices of New York Global Group, a private equity investment and corporate advisory firm. New York Global, led by Benjamin Wey, helped Chinese companies go public in the US through reverse...
Sequoia invests $3.9m in Indian recharge portal
Indian E-commerce portal Freecharge.in has raised INR200million ($3.9million) in its series A round of funding from venture capital firm Sequoia Capital.