Industry
Fund formation: Singapore asserts its onshore qualities
Asia-focused private equity players from the likes of India and Australia are becoming fans of Singapore’s tax-efficient offshore structures
PAG shows appetite for distress
Interest in Asian distressed assets appears to be living up to the hype, with PAG last week reaching a final close of $900 million a regional special situations fund. Several investments have already been made and more are in the pipeline, a source familiar...
Countdown to the AVCJ Forum
In just over a month, we will be holding our 24th Annual AVCJ Private Equity & Venture Forum in Hong Kong. As in the past, AVCJ’s annual event has attracted the biggest and most influential names in the private equity industry including such leaders...
Tata Opportunities Fund makes second close at $550m
Tata Capital has completed the second close of its latest private equity vehicle, the Tata Opportunities Fund LP, at $550 million.
Accel nears close of $150m early-stage India fund
Accel Partners is reportedly on track to raise its first India-dedicated fund - a $150 million early-stage investment vehicle – and is expected to announce a close in the coming weeks.
HDFC targets $600m property fund
Housing Development Finance Corp. (HDFC), India’s largest mortgage lender, is looking to raise a $600 million fund from overseas investors. It will be the firm’s property-focused vehicle.
HSBC hires Glenn Kennedy to head regional alternatives sales
HSBC Securities Services has appointed Glenn Kennedy as regional head of sales and relationship management for the alternatives sector. Based in Hong Kong, he will be responsible for new and existing client relationships throughout Asia Pacific, with...
Global private equity fundraising down 46% in 3Q
Global fundraising by private equity vehicles closing in the third quarter was down 46% on the previous quarter, according to Preqin. A total of 97 buyout funds raised $44.8 billion in the three months ended in September compared to $82.8 billion raised...
ASK Group, Pravi Capital to launch joint PE fund
Mumbai-based financial services firm ASK Group has teamed with Pravi Capital Advisors to launch a private equity fund, with a view to investing $200 in domestic companies.
CDC focuses on direct investments, debt in India
CDC Group, the UK development finance institution, is changing its strategy in India to focus on direct investments, co-investments and debt, as well as making commitments to private equity fund managers. It will also make investments in early-stage funds.
Partners Capital opens in Hong Kong
Partners Capital, a private investment office with more than $7 billion of assets under management, has opened a branch in Hong Kong, its first in Asia Pacific.
Sumitomo Mitsui looks to acquire distressed lender Promise Co.
Sumitomo Mitsui Financial Group, Japan’s second-largest lender, will make a $2.6 billion tender offer for all shares it does not already own in distressed consumer lender Promise Co.
Mitsubishi, Creat JV fund closes in on first deal
Mitsubishi Corp-backed Kizuna Capital Partners has identified 5-6 potential companies for the debut investment of its $120 million private equity fund and plans to close a transaction by the end of the first quarter of 2012. The alternative energy, medical...
Blackstone claims capacity to invest up to $800m a year in India
The Blackstone Group has the capacity and ability to deploy $500-800 million ever year in India if the macroeconomic environment and other factors stay favorable, according to Akhil Gupta, who oversees the firm’s India operations.
Asia LPs are raising PE allocations, says Warburg Pincus’ Landy
Joseph Landy, co-president of Warburg Pincus, said that limited partners in Asia are maintaining or increasing their allocations to private equity on a percentage basis, despite the global economic downturn.
Tano reaches $97m second close on India fund
Tano Capital has reached a $97 million second close on its latest India-focused vehicle, Tano India Private Equity Fund II, which has a final target of $150 million. The fund will look for growth capital investments in sectors such as infrastructure,...
Carlyle, Blackstone heads paint bleak outlook for US economy
The Carlyle Group’s co-founder David Rubenstein and Stephen Schwarzman, CEO of Blackstone Group, were downbeat in their assessments of the US economy on Wednesday.
Developed market PE firms outperform emerging market counterparts
Private equity funds targeting developed markets outside of the US outperformed their emerging markets counterparts in the quarter ended March 31, according to indices published by Cambridge Associates. It is only the fourth time since the first quarter...
Providence hires Actis’ Tao Sun to head China business
Providence Equity Partners has appointed Tao Sun, formerly of Actis, as managing director and head of China investment activities. Sun will start work at the firm in December.
Indian NBFC Indostar gets funding from CDIB Capital
Hong Kong-headquartered CDIB Capital has closed an undisclosed investment in India-focused non-banking finance company (NBFC) Indostar Capital Finance in a bid to capitalize on the country’s growing credit market.
VC-backed Newsummit in $100m JV with US biomed fund
Sequoia-backed Newsummit Pharmaceutical Group, a biomed developer based in Shanghai, has partnered with Cleveland Bio Fund (CBF) to launch a $100 million vehicle to invest in American medical device companies.
Q&A: Charles Eaton & David Love of Eaton Partners
Over the last 28 years, independent placement agent Eaton Partners has helped 70 funds raise around $35 billion. Founder Charles Eaton (pictured) and David Love, head of Asia and head of global distribution, reflect on a changing market
Submit your nominations for the 2011 AVCJ Awards
Diligent readers will recall that we’ve first announced in the August 30 issue of AVCJ that nominations for our 2011 AVCJ Asian Private Equity & Venture Capital Awards are open – to readers as well as the rest of the private equity industry.
Global buyout firms warn of tightening credit markets
Henry Kravis, co-founder of KKR, said that private equity deals are becoming more expensive as debt markets tighten and the cost of capital goes up.