Industry
Hana's board approves $3.5b KEB purchase
Hana Financial Group has approved a plan to acquire the 51% stake in Korea Exchange Bank (KEB) held by US buyout fund Lone Star for KRW3.92 trillion ($3.5 billion). Pending regulatory approval, the transaction could be completed by the year’s end, signaling...
Half of Chinese GPs 'challenged by regulatory issues'
More than half of Chinese private equity firms find the industry’s regulations a struggle, according to new survey conducted by Alvarez & Marsal, coming at a greater rate than their overseas peers.
Update: Lone Star may sell KEB for 11% less
Lone Star is reportedly looking to sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group at an 11% discount to its previously discussed price of KRW4.4 trillion ($3.8 billion). That price is a further reduction on the 7% discount reported...
Gobi LPs short-changed by VisionChina dispute
The LPs in Gobi Partners' fund have experienced significant delays in receiving their returns from the VC firm’s investment in China’s Digital Media Group (DMG), a source close to Gobi told AVCJ.
Dragon Capital plans $250m new fund
Southeast Asian emerging markets-focused Dragon Capital is in the process of raising its newest vehicle, the Indochina Opportunities Fund, which will invest in companies based in Vietnam, Cambodia and Laos.
The specialists: The impact of Asia's sector-specific funds
When will Asian private equity funds discard their staunch sector agnosticism and carve out specific areas of investment expertise?
AVCJ Special Achievement Award – Philip Bilden
Philip Bilden, who launched HarbourVest’s Asia business 15 years ago and is now transitioning from the role of managing director to senior advisor, reflects on a fast-evolving industry
Lone Star may sell KEB for 7% less - report
Lone Star is reportedly nearing the sale of Korea Exchange Bank (KEB) to Hana Financial Group at a 7% discount to the KRW4.4 trillion ($3.8 billion) offer price. If agreed, the move would highlight the pressure that embattled Lone Star faces to offload...
When private equity gets political
Those of you who are familiar with Hong Kong will know that the Special Administrative Region of China will be holding its elections for a new chief executive – the highest local government post – next year. While a number of individuals have expressed...
Chinese regulators poised to clamp down on illegal fundraising
China’s National Development and Reform Commission is looking into domestic private equity firms’ fundraising operations with a view to tightening regulatory oversight on the sector.
Chinese investors ask Terra Firma to create sovereign fund pool
Terra Firma Capital Partners has been approached by several large investors from China and the Middle East to set up a sovereign fund pool.
Korean regulators to investigate KEB
South Korean regulators have launched a probe into the inside operations of Korea Exchange Bank (KEB) to ensure that the lender complied with court orders to fire members of its board related to embattled owner Lone Star.
India alters rules on anchor investors, PE disclose for IPOs
Anchor investors in IPOs by Indian companies must put in at least INR50 million under new rules introduced by the Securities and Exchange Board of India (SEBI). The threshold, designed to ensure that only serious players enter the fray, comes alongside...
Actis gets $250m from Washington State Investment Board
Washington State Investment Board has committed $250 million to Actis’ latest emerging markets vehicle as part of a more than $550 million allocation to global private equity managers made earlier this month. The other beneficiary was Apax Partners’ eighth...
SKS Microfinance Chairman Vikram Akula resigns
The founder and chairman of embattled microlender SKS Finance, Vikram Akula, has resigned his post after 14 years at the firm. It comes as the publicly listed lender looks to recoup costs amid an increasingly difficult business environment.
Maybank sees SE Asia cleantech potential
China and India's near monopoly over the Asian cleantech space may have come to an end if the first close last week of Maybank’s Southeast Asia-focused fund is anything to go by.
Indian investors reconsider structures
Proposed tax reforms are threatening Mauritius’ dominant position as the preferred foreign investment conduit for India
Australian LPs miss out on Neuberger Berman fund-of-funds
Neuberger Berman announced a final close of $720 million for its NB Crossroads 2010 fund-of-funds last week, but Australian investors were conspicuous by their absence. Not one Australian LP subscribed to the latest vehicle, which Neuberger attributes...
India fundraising: Survival of the fittest
India has seen plenty of private equity spinouts but an increasingly difficult fundraising environment is expected to separate the men from the boys
Established Indian GPs shine in fundraising
It's not secret that many private equity firms are gearing up for a major fundraising spree in Asia. From the global firms like KKR, Bain and TPG to the Asia-based regional funds and focused, country-specific funds, private equity vehicles are in the...
Hony plans $2.4b USD fund - report
Hony Capital has reportedly targeted up to $2.6 billion for its latest private equity fund, touted as the biggest US dollar fund raised by a China-based fund.
Place your vote in the 2011 AVCJ Indian Awards
We are happy to announce the nominee shortlist for 2011 AVCJ Indian Private Equity and Venture Capital Awards. Relying on submissions from across the PE community and the expertise of our select panel of industry judges, five nominees have been chosen...
Tata Capital, IFC form cleantech investment JV
Tata Capital and the International Finance Corporation (IFC) have established Tata Cleantech Capital Ltd (TCCL), which will provide capital to Indian small- and medium-sized enterprises (SMEs).
Lone Star ordered to sell down KEB stake within six months
Lone Star has been ordered to sell down the majority of its 51% stake in Korea Exchange Bank (KEB), South Korea’s sixth-largest bank by assets, to 10% or less within six months. This has reportedly prompted US-based Lone Star to seek out buyers as its...