Industry
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...
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...
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...
GIC reaches agreement with Paulson & Co. over hotel assets
Government of Singapore Investment Corp. (GIC) has reached a settlement with MSR Resorts, a hotel group owned by hedge fund Paulson & Co. Under the settlement, which was approved by a US bankruptcy court judge on Tuesday, GIC will cease its near-term...
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...
CVC considers US bond issue to cover Nine Entertainment debt
CVC Asia Pacific may service Nine Entertainment’s A$3.5 billion ($3.7 billion) in debt by raising more debt from private investors in the US. It is thought that a “144A” bond issue would raise $500 million to $1 billion that would go toward reducing...
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.
Origo looks to exit Gobi Coal and Energy
The owners of Mongolian mining firm Gobi Coal and Energy, which include Beijing-based Origo Partners, are looking to sell the asset for as much as $750 million. Bids are due mid-October, and Goldman Sachs has reportedly been hired to facilitate the sale.
Chinese regulators call for clampdown on VIE investment structures
The China Securities Regulatory Commission (CSRC) has issued an internal report asking the State Council to take action against the variable interest entity (VIE) structure that underpins much foreign investment in the country.
KKR closes $1b global mezzanine fund
KKR Asset Management (KAM) has made a final close on its more than $1 billion KKR Mezzanine Partners I fund, raised through global investors including insurers, pension plans, family offices and sovereign wealth funds.
CII calls for alterations to SEBI's proposed PE regulations
Private equity funds should be allowed to invest up to 33.33% of their corpus in equity and debt instruments of listed companies, the Confederation of Indian Industry (CII) has said. The group thinks this condition provides necessary flexibility to private...
IL&FS looks to raise $900m across three funds
IL&FS Investment Managers (IIML) is looking to raise up to $900 million across three funds, but the fundraising process is expected to take longer than usual as a result of tighter risk assessment among investors globally.
CIC, KIC chairmen named to high-profile RDIF advisory board
The chairman of China Investment Corp. (CIC), Lou Jiwei, has been named to the international advisory board of the Russia Direct Investment Fund (RDIF). Choi Chong Suk, chairman of Korea Investment Corp. (KIC), will also serve on the board alongside Bader...