Industry
PE and the debt crisis: Coping with chaos
Private equity investors, accustomed to 5-7 year horizons, shouldn’t be overly concerned by short-term fluctuations in the public markets. It is a reassuring boilerplate statement, but given the volatility of the last fortnight, perhaps it is easier said...
AVCJ Forum: More than meets the eye
In the June 22 edition of this column, I shared a conversation with a venture capitalist about the reasons why it makes sense for VCs to attend the AVCJ Forum (www.avcjforum.com) in November. Basically, senior partners of the larger private equity and...
China Life recieves PE investment license - report
Chinese insurance major China Life has been granted a license to raise a private equity fund, China’s 21st Century Business Herald first reported, and has targeted its first investment.
TStone may not bid for Woori - report
Uncertainty surrounds South Korean private equity firm TStone's participation in the auction for Woori Finance Holdings after executives alluded that the firm may drop out of the first round of bidding, which is slated to start today.
Fortune Brands raises tender offer to $1.05b
Consumer goods holding company Fortune Brands has raised a $1 billion debt tender offer to $1.05 billion due to oversubscription, The Wall Street Journal reported. The proceeds from the company's sale of golf equipment and apparel business Acushnet to...
India's TVS raises $110m for growth fund
TVS Capital Funds, an India-based private equity firm, is reportedly planning to raise up to INR5billion ($110.3 million) for an add-on fund.
Indonesia bans banking sector takeovers
Indonesia’s central bank has temporarily barred takeovers in the banking sector – where there is considerable interest from foreign private equity investors – as it considers a review of ownership rules. The central bank is still drafting the policy and...
CPP Investment Board announces 0.9% gain in fiscal first quarter
Canadian pension fund CPP Investment Board announced a 0.9% quarter-on-quarter gain for the three months ended June 30, primarily thanks to a strong performance from private market investments, Dow Jones reported.
Saigon Asset Management to launch $300m Indochina energy fund
Saigon Asset Management plans to raise $300 million for an energy fund targeting thermal and hydro power projects in Vietnam, Cambodia and Laos. The company believes the energy sectors in these countries are open to foreign investment and plans to participate...
Goldman Sachs nears $555m investment into MBK for Woori bid
South Korean private equity fund MBK Partners is reportedly close to securing a KRW600 billion ($555 million) investment from Goldman Sachs that will support its bid for Woori Finance Holdings.
AXA Private Equity raises $3b for secondary fund
AXA Private Equity has raised $3 billion for its latest secondary fund. It is targeting a final close of $3.5 billion for AXA Secondary Fund V, having set the hard cap at $4 billion, the Wall Street Journal reported, citing a person familiar with the...
President of PE-backed Taishin Financial feared dead after fall
Taiwanese rescue teams are continuing their search for the president of Newbridge Capital-backed Taishin Financial Holdings, Keh Hsiao Lin, after the executive fell from a 100-meter-high cliff during a nighttime climb of Shusuei Mountain Wednesday.
Former Infosys CFO to launch India PE fund
T.V. Mohandas Pai, the former CFO of Infosys, is reportedly planning to raise a private equity fund worth $100 million and is already closing in on his first investment.
CITIC's mezzanine initiative still veiled in secrecy
The news was brief yet had potentially far-reaching consequences: the private equity arm of Chinese financial behemoth CITIC Group would launch a RMB5 billion ($777 million) renminbi-denominated mezzanine fund.
Asian LPs and the US Debt Crisis
There has been a shift in the investor base of major private equity funds in recent years as Asia evolves from being just an investment destination to becoming a region for fundraising. Sovereign wealth funds, of course, are leading the way with the substantial...
Indonesia's GPs: Subscriptions wanted
Around 15 Fund-of-Funds LPs descended on Jakarta earlier this year to conduct due diligence on Northstar Pacific Partners’ third buyout fund. The Indonesian private equity firm set an initial target of $500 million but the final close is believed to be...
India regulation: SEBI takes a stand
The Uniqueness of India's private equity sector is a product of its own unsystematic development – a process that has been largely hands-off from a regulatory standpoint, cultivated by the professionals, emerging investors and the spinoff funds within...
CVC-backed Nine Entertainment expects modest profit growth in coming year
CVC-owned Nine Entertainment posted EBITDA of A$414.9 million for the fiscal year ending June, up 16.4% year-on-year, but it forecasts modest growth this year – a reflection of the challenges facing most Western media companies that rely heavily on advertising...
Apollo's PE business drives up second-quarter earnings
A strong performance from Apollo Global Management’s private equity business saw second-quarter earnings reach $139.6 million, or US$0.31 per share, on the back of revenue jumped to $308.9 million from $79.3 million. According to US GAAP, Apollo posted...
Russia's sovereign wealth fund seeks Chinese partners
Russia’s first sovereign wealth fund, the $10 billion Russian Direct Investment Fund (RDIF), which was set up in June, is seeking Chinese partners to co-invest in deals, Caixin reported.
Former Actis partner in latest India fund spinout
Subba Rao Telidevara, formerly a partner at Actis, has launched an independent fund worth $250 million targeting buyouts, PIPE deals and growth capital investments. The fund, known as LotusPool Capital, is expected to make its first close in 8-12 months,...
China considers more tax breaks for VC firms that back SMEs
China’s State Administration of Taxation may offer more tax incentives to venture capital firms that invest in small- and medium-sized enterprises (SMEs), China Securities Journal reported, citing unnamed sources.
Private equtiy reengages with Indian MFIs
The World Bank’s International Finance Corp. (IFC) is reportedly finalizing an INR1.3 billion ($29.2 million) investment in Indian microfinance institution (MFI) Bandhan. This comes as other PE players also reconsider investments into MFIs following a...
IL&FS appoints banks for RMB bond issuance
Indian infrastructure investor IL&FS has selected Deutsche Bank, RBS and UBS to handle its renminbi-denominated “dim sum” bond issue in Hong Kong. The private equity firm aims to raise the equivalent of $200 million, Reuters reported.