Industry
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.
INCJ: Collaborator or competitor?
The Innovation Network Corporation of Japan (INCJ) has always divided opinion. The government-run entity, which operates with the support of local corporations, is intended to support new growth businesses.
IBK Capital Q to invest in Hankook Silicon
IBK Capital-Q Capital Partners, which is backed by The Korea Finance Corp. (KoFC), will invest KRW40 billion($38 million) in Hankook Silicon(HKS), the third-largest polysilicon manufacturer in South Korea, according to local media reports. The size of...
Indian regulator proposes new measures for funds oversight
The Securities and Exchange Board of India (SEBI) has published draft regulations that would tighten its control over alternative investment funds (AIFs). Vehicles specializing in private equity, venture capital, PIPE, infrastructure, real estate and...
IFC among new stakeholders in Cholamandalam Investment and Finance
Cholamandalam Investment and Finance Company has diluted a 15% in itself to investors including IFC, Amansa Investment, Acquarius Investment, Reliance Capital and India Capital Fund as part of its effort to raise INR250 crore ($56.56 million) for business...
Avendus to launch fund targeting listed companies
Avendus PE Investment Advisors plans to raise a fund worth up to $200 million to target mid-size listed companies in India, Reuters reported. This would be the third fund launched by the firm, a unit of financial services player Avendus Capital.
SEBI implements new takeover rules
The Securities & Exchange Board of India (SEBI) has mandated that an investor must own at least 25% of a company in order to launch a takeover bid for that asset, up from the current 15% threshold.
Punjab National Bank to take 30% stake in MetLife India
Punjab National Bank (PNB) will take a 30% stake in MetLife India, an insurer that counts M Pallonji Enterprises, Jammu Kashmir Bank, IGE and several private equity firms among its shareholders. M Pallonji is also believed to be part-owned by GS Strategic...
LVMH's private equity arm makes first investment in India
L Capital Asia, the private equity arm of LVMH Group, has made its first investment in India, picking up a 25.5% stake in Genesis Luxury Fashion for an undisclosed sum. The investment will be executed in two tranches.
Franklin Templeton to invest in Mumbai's Kimaya Fashions
Franklin Templeton will buy a 20% stake Mumbai-based retailer Kimaya Fashions for about INR600 million ($13.5 million), The Economic Times reported, citing people familiar with the situation. The company has confirmed the investment but not the size of...
Mandolin raises its stake in beleaguered Sino-Forest to 15%
Singapore-based Mandolin Fund has increased its stake in scandal-hit Chinese forestry company Sino-Forest to nearly 15%. The fund’s announcement on Wednesday that it had bought a further 5.3 million shares on July 26 saw the Toronto-listed stock close...
SMBC VC to launch fund targeting small Japanese firms
SMBC Venture Capital, a member of Sumitomo Mitsui Financial Group (SMFG), will launch a JPY14 billion ($178.3 million) fund aimed at helping small, owner-run firms make shareholder and structural changes, Nikkei reported.
CVC considering SHK Finanicial sale
CVC Capital Partners-backed Sun Hung Kai & Co. is considering the sale of its brokerage and wealth management subsidiary SHK Financial, Bloomberg reported, citing sources who say the company has held informal discussions with potential buyers.
Catamaran, Nexus commit $9m to Bigshoebazaar's Series B round
Catamaran Ventures and Nexus Venture Partners have participated in a Series B round of financing worth INR400 million ($9 million) for Bigshoebazaar India.
J.C Flowers considers joint bid with TStone for Woori
J.C. Flowers is in talks with TStone, the South Korean private equity firm, to join the bid for a 57% stake in Woori Financial Holdings that is being divested by the Korean government, Reuters reported.
India's L&T plans infrastructure-focused private equity fund
Larsen and Toubro (L&T), an Indian engineering and construction company, is preparing to launch a private equity fund which will invest infrastructure projects, The Economic Times reported.
The Asian office: Regional, local or both?
I've said before that it's high time GPs based in US and Europe resume plans to set up offices in Asia. Before these ambitions were mothballed during the global financial crisis, I was often asked where in the region it is best to locate an office. The...
Is China pushing VCs out of third-party payment?
Jack Ma is every bite the internet pioneer. In Alibaba.com, he created China’s leading business-to-business trading platform; Taobao swept aside eBay to become the number-one auction website; and the launch of Alipay, a third-party payment service, plugged...
CIC announces 11.7% return on global investments for 2010
China Investment Corp. (CIC) saw a 11.7% return on its offshore investments in 2010, a year in which its exposure to alternative investments – such as private equity, hedge funds, real estate and infrastructure – increased sharply to 21% from 6% in 2009....
JAIC forms $45m joint venture in Shenyang
Japan Asia Investment Company (JAIC) will form a joint venture fund with Shenyang Wanrun New City Investment Management to make investments in Chinese and Japanese firms.
CPPIB makes first direct investment in Hong Kong real estate
Canada Pension Plan Investment Board (CPPIB) has acquired a 50% stake in Interlink, a Hong Kong building owned by Goodman Group, for approximately C$285 million ($301 million). The deal, which comprises an equity commitment of around C$205 million and...