Industry
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.
Blackstone raises half its $781m RMB-denominated fund
Blackstone Group has reached the halfway point in fundraising for its RMB5 billion ($781.3 million) debut renminbi-denominated fund, said Michael Sotirhos, senior managing director at the buyout firm.
Trustbridge receives $30m from Arizona pension fund
Trustbridge Partners has received a $30 million commitment for its fourth fund from the Arizona Public Safety Personnel Retirement System. An India sidecar fund on JPMorgan’s Asian Infrastructure & Related Resources Opportunity (AIRRO) Fund will get $25...
Hiroyuki Watanabe to launch tech-focused venture fund
Former general manager of internet services firm NGI Group Hiroyuki Watanabe has spun out to launch a maiden venture fund.
Accel cancels plans for $400m India fund - report
Silicon Valley-based VC firm Accel Partners will not raise a $400 million India-focused fund as previously planned, The Times of India reported, citing unstable market conditions and increased competition as reasons for the decision.
Advent International closes in on BT's Tech Mahindra stake
Advent International is intensifying negotiations with BT over the UK telecom group’s stake in Tech Mahindra. BT held a 23.37% interest in the Indian IT company as of June 30 and has been looking at exit options. Based on current market prices, the stake...
Nominations for the 2011 AVCJ awards close September 30
The AVCJ Asian Private Equity & Venture Capital Awards recognizes individuals, firms and transactions that have contributed to the success of the Asian private equity and venture capital industry. Tell us who you think deserves recognition. Submissions...
AXA tipped to sell private equity unit for around $670m
French insurer AXA has put its private equity unit up for sale in order to focus on its core insurance business.
Former ChrysCapital MD seeks $350m for new fund
Former managing director of ChrysCapital Brahmal Vasudevan is targeting $350 million for a spin out fund focusing on emerging markets in India and Southeast Asia.
Japan's SBI Holdings launches Cambodia investment fund
Japanese financial group SBI Holdings has teamed with Cambodia’s largest conglomerate Royal Group to launch a private equity investment vehicle predominantly targeting Cambodian companies.
Australian private equity firms struggle to raise new funds
Australian private equity firms are struggling to raise new funds, with investors demanding lower fees and more information on portfolio companies.
Russia sovereign wealth fund in talks with potential Chinese partner
Russia Direct Investment Fund (RDIF), the country’s new sovereign wealth fund, is in talks with a Chinese group about making joint investments, with details of a partnership potentially to be announced in October.
IFC eyes investment in Indian SME-focused fund
IFC is set to commit $15 million to Forum Synergies (India) PE Fund Managers’ new vehicle, India Knowledge-Manufacturing Fund I, which has targeted a $150 million raise.
Updated: TPG's Australia head moves to Singapore
TPG has relocated Ben Gray, head of its Australia operations, to Singapore from Melbourne. He has taken on the role of managing partner and group head for Australia, Japan, Korea and Southeast Asia. Stephen Peel remains the other managing partner for...
Private equity and the state
The state, particularly in Asian countries, has always played a big role in the private equity industry. While almost all growing regional economies have helped nurture PE through sovereign wealth funds – fueled by foreign exchange and other cash reserves...
Clove Capital targets $250m Southeast Asia growth fund
Clove Capital Partners, a spin out from EMP Global’s Asia business, plans to raise a $250 million growth capital fund that will target mid-size companies in Southeast Asia. It will principally focus on Indonesia, the Philippines and Thailand, with Malaysia...
Former CalPERS manager sets up legacy asset consultancy
A former senior portfolio manager at CalPERS has launched a company focused on helping institutional investors maximize value from non-core and underperforming legacy alternative investments.