Industry
China funds: Cult of personality
Star dealmakers are busy setting up their own funds in China. LPs need to separate the hype from the investment reality
Khazanah appoints QIA's Kenneth Shen as executive director
Khazanah Nasional Bhd, the investment holding fund of the Malaysian government, has appointed Kenneth Shen as executive director of investments. Shen was formerly adviser to the chief executive officer of Qatar Investment Authority (QIA) and a board member...
CITIC PE to launch $773m mezzanine fund
The private equity unit of CITIC Securities is looking to tap into debt finance by launching a RMB5 billion ($773 million) mezzanine fund, Reuters reported.
KIC’s new CEO pledges to boost private equity exposure
Korea Investment Corp.’s (KIC) new chief executive has pledged to boost the sovereign wealth fund’s exposure to alternative investments such as private equity and commodities.
Indonesia considers cap on foreign ownership of local banks
Indonesia is considering limits on foreign ownership of domestic banks at a time when private equity firms are keen to boost their exposure to the sector. Darmin Nasution, the central bank governor, said that the potential impact of the regulations is...
CalPERS, CalSTRS announce annual gains in excess of 20%
US pension fund CalPERS announced a 20.7% return for the year ending June 30, a 14-year high, while sister fund CalSTRS reported its best performance in 25 years with growth of 23.1%.
Aureos targets $200m fund for India, Sri Lanka, Bangladesh
Aureos Capital is targeting a year-end close for a $200 million fund that will invest in India, Sri Lanka and Bangladesh. Balaji Srinivas, managing partner at Aureos India Advisers, told Bloomberg that the Aureos India Fund II would deploy around 15%...
VantagePoint invests in MYFP Wealth Management
VantagePoint Capital Partners has invested an undisclosed sum in Beijing MYFP Wealth Management. This is MYFP's first institutional investment placement and VantagePoint’s first investment in China’s financial services sector.
CIC appoints new CIO
China Investment Corporation (CIC) has appointed Li Keping as its new chief investment officer. Li, who was formerly vice chairman of the $130 billion National Social Security Fund, replaces Gao Xiqing, according to Reuters.
Horsley Bridge appoints Du Chai as MD
Fund-of-funds Horsley Bridge Partners has appointed Du Chai, head of private investments and real assets at Illinois-based Northwestern University, as managing director of its investment team.
Temasek eases exposure to Chinese banks
The timing of Temasek's sell-down of a partial stakes in Bank of China and China Construction Bank certainly raised eyebrows. Singapore’s second-largest sovereign wealth fund made its move hours after Moody’s warned that the scale of local government...
PE advisers prepare for US registration requirements
The US has adopted registration and disclosure provisions for investment advisers, leaving the private equity industry to fret about the costs and hassles of compliance
Private equity, the ASEAN way
South East Asia has returned as a favored destination for private equity investors. With a population of over 600 million people and a combined GDP of $1.8 trillion, the Association of Southeast Asian Nations (ASEAN) – comprising Indonesia, Malaysia,...
Aberdeen launches real estate fund-of-funds in Asia
Singapore-based Aberdeen Asset Management Asia has launched a property fund-of-funds that is expected to raise up to $400million. It will help boost real estate exposure among institutional investors.
Accel targets $125m India venture fund
Accel Partners is targeting a $125 million fund that will be dedicated to India, The Business Standard reported. The California-based venture capital firm is understood to have sounded out various large fund-of-funds about its plans.
Mitsubishi Corp, Creat Group to form $125m fund
Japanese trading group Mitsubishi Corp. and Beijing-based investment firm Creat Group will establish a JPY10 billion ($125 million) fund in August that will operate as a 50-50 joint venture.
PAG makes first close on Asia buyout fund at $1.7b
PAG Asia Capital has made a $1.7 billion first close of PAG Asia I LP, a pan-Asia private equity buyout fund. The private equity firm is targeting a final close of $2.5 billion in the next few months.
Orchid closes fifth China fund at $650m
Orchid Asia has reached a final close on its fifth China private equity fund, imposing a hard cap of $650 million despite subscriptions amounting to 35% over the target size.
Sun Art raises $1.1b in Hong Kong IPO
Sun Art Retail Group, China’s largest supermarket operator, raised $1.1 billion through its Hong Kong IPO after pricing shares at the top of the indicative range.
Tokyo Marine, Mitsui launch $123m solar energy fund
Tokio Marine Asset Management and Mitsui & Co. are reportedly set to jointly launch a solar energy investment fund with a targeted corpus of JPY10 billion ($123.3 million). Institutional investors, such as pension funds and life insurers, have been approached...
Thailand state pension fund may start investing overseas
Thailand Government Pension Fund (GPF), the sovereign wealth fund with assets totaling THB400 billion($13.2 billion), plans to invest overseas later this year. It is likely to target real estate funds, according to reports.
Archer’s fifth fund could reach $1.5b
Archer Capital’s much talked-of fifth fund could reach A$1.4 billion ($1.5 billion), with Future Fund expected to sign up as an investor, The Australian reported. The fundraising target was previously said to be A$ 1.2 billion ($1.27 billion).
Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony...
American LPs and Asia GPs: A meeting of minds
It goes without saying that LPs are interested in Asia. But where do they – and the GPs who put their capital to work – see the best returns?