Industry
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...
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)...
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.
FountainVest, Spring Capital buy into Chinese jewelry distributor
China-focused PE firms FountainVest Partners and Spring Capital Asia have bought a 28.27% stake in China-based Enzo Jewelry for more than $41 million, coming as Enzo’s owner, LJ International, considers spinning Enzo off via an IPO in the future.
Blackstone reports first close for its RMB fund
The Blackstone Group has recorded a first close its maiden RMB fund named the Shanghai Blackstone Equity Investment Partnership. In a press release, Blackstone has confirmed that the fund, which has set target size of RMB 5 billion ($765 million), has...
SBI Holdings launch Korean government-backed PE firm
Japanese financial group SBI Holdings has announced that its private equity entity in South Korea, has been appointed as one of the fund managers to operate a new KRW 10 billion ($92 million) Japan/Korea parts and material fund, to be operated in conjunction...
$30m Mongolian PE fund makes debut
Silk Road Management, a Mongolia and Central Asia-focused investment firm, has raised $30 million for its debut fund called the Mongolia Human Capital Fund. The final close exceeded Silk Road’s original target as of $25 million.
KKR brokers largest PE deal in Vietnam
KKR has completed the largest-ever private equity deal in Vietnam, buying a 10% stake in Masan Consumer Corporation, a division of domestic private-sector powerhouse Masan Group, for $159 million.
Korean PE goes full circle
While fundraising efforts and investment and private equity activity have been subdued for some time, exit-focused activity is very much on the boil