Industry
Lightspeed targets $675m for ninth fund
Lightspeed Venture Partners is seeking $675million for its new global fund, according to a regulatory filing. The firm principally targets investments in China and India, as well the US and Israel.
Hony Capital raises $4b for new USD, RMB funds
Beijing-based Hony Capital, one of China’s largest private equity firms, has raised close to $4 billion from investors for two separate vehicles, both double the size of their respective predecessors.
Former head of SBI Macquarie seeks $500m for India fund
Violet Arch Capital Advisors, a startup run by Varun Bajpai, former head of SBI Macquarie Infrastructure Fund, is looking to raise $500 million for its debut fund. The vehicle will be sector agnostic, targeting opportunities that are driven by India’s...
Carlyle founders share $400m in 2011 earnings
The Carlyle Group’s three founders together earned more than $400 million in 2011 after the private equity firm returned a record $15 billion to LPs in the first nine months of the year.
Profile: Longreach Group's Mark Chiba
A student activist turned career investment banker, Mark Chiba set up Longreach Group as a Japan-focused buyout firm with old-fashioned values.
Fourth quarter analysis: The end of multiples arbitrage?
Fourth-quarter analysis: Growth capital investments flounder; established GPs thrive in difficult markets; trade and secondary sales fail to pick up the capital markets slack.
Canaan Partners closes ninth fund at $600m
Canaan Partners, the venture capital firm that focuses on the US, India and Israel, has closed its ninth fund at $600 million. The new vehicle, which received commitments from both new and existing LPs, takes the firm’s total assets under management to...
Banker formally launches $1b Indonesia fund
A new Indonesian merchant banking operation plans to raise a $1 billion private equity fund that will target investments in the country. If successful, it would be the largest ever Indonesia-focused fund as well as one of the largest vehicles of its type...
KPMG resigns as China Forestry auditor
KPMG has resigned as auditor of China Forestry Holdings, a portfolio company of The Carlyle Group and Partners Group, which became embroiled in an accounting scandal early last year. The accounting firm will not stand for reappointment.
NSSF considers investments in foreign PE funds
China’s National Social Security Fund (NSSF) is looking for investment opportunities in foreign private equity firms as part of efforts to boost returns and broaden its exposure to overseas markets.
CLSA Capital Partners backs Chinese spandex producer
CLSA Capital Partners has purchased a minority stake in Artex Fiber, one of China’s largest spandex producers. The RMB250 million ($39.5 million) investment was made through ARIA Investment Partners III, a $333 million vehicle that focuses on growth and...
Global PE fundraising endures weak fourth quarter
Global private equity fundraising ended 2011 weakly, with 108 funds attracting commitments of $52.4 billion in the fourth quarter, the lowest quarterly total since the start of the financial crisis. The provisional figure was marginally below the July-September...
Indian regulator unveils plans to help promoters reduce holdings
The Securities and Exchange Board of India (SEBI) has released proposals designed to make it easier for entrepreneurs or promoters to lower their stakes in companies in order to meet minimum public shareholding limits. Share buybacks via tender offers...
Vivo Ventures closes seventh fund at $375m
Vivo Ventures, the US and Greater China-focused healthcare investment firm, has closed its seventh fund at $375 million. The firm now has more than $1 billion under management.
Q&A: Hamilton Lane's Mario Giannini
Mario Giannini, CEO of Hamilton Lane, discusses the fundraising climate globally and the impact of massive capital inflows on Asia.
Nomura enters China's PE space
Nomura Holdings has become the first Japanese financial services company to invest in Chinese private equity, after agreeing to participate as an LP in the Shanghai-based Jiu You Quan Xing Equity Investment Fund. The vehicle, which is managed by Jiu You...
Archer secures $1.5b for fifth fund
Projections for Archer Capital's fifth fund continued to increase even as the capital-raising environment in Australia got tougher. A target of A$1.2 billion ($1.2 billion) soon became A$1.4 billion and finally A$1.5 billion, which is where it closed...
Don't lose your head in a hot market
As we head into 2012, will investors’ appetite for Asian private equity be checked? Apparently not.
Nomura becomes first Japanese firm to invest in Chinese private equity
Nomura Holdings said it would become the first Japanese financial group to make private equity investments in China, having reached an agreement with Shanghai-based Jiu You Quan Xing Equity Investment Fund. This follows the bank winning approval to participate...
PTC India to set up PE vehicle with sovereign wealth fund
PTC India has agreed to set up a private equity fund with an unnamed sovereign wealth fund, according to the chairman of the state-run power trading company. It will have initial capital of $200 million and target stakes in power projects in India and...
H&Q to launch first renminbi fund
H&Q Asia Pacific is looking to tap Chinese institutions and individuals as LPs for its first renminbi-denominated fund.
Sino-Forest bondholders may face 100% write-down
Sino-Forest bondholders could face a near-100% write-down on their investment as the company received a default notice on two of its bonds after failing to file third-quarter results on time.
Compliments of the season from AVCJ
AVCJ's daily bulletin will take a short break next week for the festive holiday season. Publication will resume on January 3, while the weekly magazine's first issue of 2012 is released the following day.
Highlights from 24th Annual AVCJ Forum 2011
Thank you to all the sponsors, speakers and delegates that participated at the 24th annual AVCJ Forum: Asia's Private Equity Week 2011 held in Hong Kong on 7-10 November 2011.