Industry
CITIC PE raises $990m second fund
China-focused CITIC Private Equity Funds Management (CITIC PE), has closed its second fund, the CPEChina Fund, L.P., with $990 million of committed capital.
Blackstone, Carlyle and DT Capital approved for QFLP pilot
Three private equity firms, Blackstone, the Carlyle Group and local representative DT Capital, have received approved from the Shanghai government for its Qualified Foreign Limited Partners (QFLP) scheme says a report by Reuters.
Standard Chartered banks on China's auto industry - source
Standard Chartered Private Equity has invested approximately $35 million for an undisclosed stake in Xi’an-based luxury automobile dealership Sunfonda Automobile Group, a source close to the deal exclusively confirms to AVCJ.
VIDEO: ChrysCapital's Gulpreet Kohli
Despite India’s investment landscape has become expensive in recent years, ChrysCapital’s MD Gulpreet Kohli identifies some pockets of opportunity that make the market compelling
IFC considers $20m investing in Tsing Capital
International Finance Corporation (IFC), the investment arm of The World Bank, has proposed a $20 million add-on investment in Tsing Capital, which claims to be the first cleantech-focused venture capital firm in China.
Private equity in China's insurance sector
The growth of the insurance sector in China has rocketed in recent years with the potential still remaining tremendous and private equity has been in the center of this rise. And it has been a profitable relationship for GPs that are able to take stakes...
BoaML PE team spins out
NewQuest Capital Partners to focus on direct secondaries in Asia via its $400 million fund
Unitas completes landmark Hyva deal
Asian private equity firm Unitas Capital has completed the acquisition of Hyva Holdings B.V. from Europe’s 3i, for an enterprise value of EUR525 million ($761.5 million). The acquisition was partly financed through a high yield bond, marking the first...
India's IFCI invests $56m in Gayatri Energy
Gayatri Energy Ventures has reportedly raised INR250 crore ($56.2 million) from the Industrial Finance Corporation of India (IFCI) through the issuance of compulsory convertible debentures, marking the largest-sized tranche ever invested by IFCI.
Korea looks to ramp up alternative investments
South Korea’s regulatory bureau is reviewing the country’s financial laws in an effort to scope out methods of augmenting Korea’s alternative investment landscape, through means including domestic private equity and hedge funds, according to Reuters....
Ex-Merrill Lynch exec Mark Devonshire receives $74m for distressed fund
mCapital, a special situations fund manager with operations in Europe and Asia, has raised EUR50 million ($74 million) of seed capital from LPs Advanced Capital and IMQubator.
CNEI invests China's LED producer
China New Enterprise Investment (CNEI), a China-focused private equity firm focusing on growth targets, has invested $11 million in Nanjing Handson, a domestic LED lighting application company.
Matrix Partners closes second China and India funds
Global venture capital firm Matrix Partners China and India have both closed their second funds, the Matrix Partners China II and Matrix Partners India II, with investment corpuses of $350 million and $300 million for the China and India vehicles, respectively....
CVC eyes Philippine bank stake - reports
CVC Asia Pacific is reportedly eyeing a stake acquisition in Filipino bank Rizal Commercial Banking Corp (RCBC), in line with the financial corporation’s aim to raise capital.
China Construction Bank targets Primus' EON Capital
China Construction Bank is said to be eyeing a stake acquisition in Malaysian bank EON Capital Bhd., backed by Primus Pacific Partners, and reportedly sent a letter of interest to the Malaysian central bank seeking permission to court EON’s backers for...
Victoria stops investing in PE
Victoria Funds Management Corporation, which manages funds for the State of Victoria, Australia, has announced that it will stop investing into private equity and will, instead, focus on infrastructure investing. The once-prominent limited partner, which...
Announcing the AVCJ Private Equity & Venture Capital Awards China
2003 was probably one of the gloomiest years in recent memory for people in Asia. It was in that year that we launched our first annual AVCJ Private Equity & Venture Capital Awards at the suggestion of Walden’s Lip Bu Tan, who rightly proposed injecting...
Co-investments: Are GPs and LPs on the same page?
Private equity funds investing together with their limited partners have been on the rise recently with no signs of slowing down but what are the economics and the implications for the relationship?
Asia Pacific fund terms to fore in tough times
The latest Asia Pacific Private Equity Fund Terms Survey from independent fund of funds group Squadron Capital highlights a few shortcomings in regional funds’ adherence to the Institutional Limited Partners Association (ILPA) principles, increasingly...
Cargill to raise Asian food fund says report
Cargill’s private equity arm, Black River Asset Management, is planning to raise a $400 million fund focused on the food in Asia, reports Reuters. According to the article, the proposed fund, called Black River Capital Partners (Food) Fund, has already...
Kefei Li joins Wilson Sonsini Goodrich & Rosati
Tech and enterprise-focused law firm Wilson Sonsini Goodrich & Rosati has appointed Kefei Li as a China-based Partner, joining from Skadden, Arps, Slate, Meagher and Flom in Beijing.
NewQuest, backed by PE consortium, acquires BoaML Asia's non-real estate assets
A newly launched fund managed by NewQuest Capital Partners, backed by a consortium consisting of Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia, has acquired “substantially all” of Bank of America Merrill Lynch’s (BoaML) non-real...
COFCO, PE-backed fund to launch in China
COFCO, touted as the largest oils and food importer and exporter in China, announced that it last month formed its COFCO Agricultural Industry Fund Management Co., a PE manager targeting PRC agriculture investments. Its initial fund has a corpus of between...
Blackstone RMB fund approved for QFLP
The Blackstone Group’s RMB denominated domestic Chinese private equity fund has been approved for the Qualified Foreign Limited Partner (QFLP) program by the Shanghai authorities according to a report by Bloomberg.