Industry
Longreach makes long-awaited first close
Hong Kong-based general partner The Longreach Group has completed the $125 million first close of its Japan-focused Longreach Capital Partners 2, L.P., coming as Japan’s business environment undergoes a transitional period.
MSPE Asia’s Scott Hahn takes on Korea
In the latest in a string of recent spin offs by PE professionals in the region, former CIO and Managing Director at Morgan Stanley Private Equity Asia, Scott Hahn, is said to be raising $500 million for a fund that will solely focus on South Korean investments.
Goldman buys into major Chinese insurer
One year after the private equity arm of Goldman Sachs set its sights on a sizable minority stake in Chinese insurance major Taikang Life Insurance, Goldmans PIA has finally closed the deal, thus marking its latest foray into the PRC’s booming sector.
Apollo takes step forward with IPO, two steps back
On March 22, Apollo Global Management LLC was confident that its imminent IPO prospects were solid. One of its aims was to join fellow private equity giants Blackstone and KKR in going public. In fact, the Apollo event was widely seen as likely to re-ignite...
Malaysia and the rest of ASEAN
I was recently in Malaysia last week and got a chance to catch up with a number of old friends in Kuala Lumpur about the local private equity industry, which has been getting a bit of ink from the press lately as a result of Affinity Equity Partners and...
Prudential, Fosun ready to invest with new vehicle
Prudential Financial and China’s Fosun Group have launched the $600 million PRC-focused PE fund first announced in January, with the two parties officially signing a JV agreement enabling the vehicle to begin investing.
Goldman's Taikang stake acquisition finalized
Goldman Sachs has acquired a 12.02% stake in China's Taikang Life Insurance Co Ltd. – a slice reportedly worth more than $900 million.
Tata Capital makes first close
Tata Capital has completed the first close of its newest India-focused private equity vehicle, the Tata Opportunities Fund LP, raising $450 million.
Asian funds set to maintain high management fees - Squadron
Despite the emerging status of Asia Pacific’s private equity market, the region’s largest funds charge more than those from the West when it comes to management fees, an annual survey conducted by Squadron Capital finds, and are unlikely to drop anytime...
Succession in private equity
Perhaps it is a sign of market maturity, or maybe it is a signal that the effects of the global financial crisis has passed, but the past few months have seen quite a few human resources changes within the Asian private equity industry. While changing...
D.E. Shaw joins forces with Indian billionaire
In the first three months of 2011, India has fully showcased its clout as a destination for growth and transactions, with top financial services deals dominating headlines, including Reliance Life's stake sale to Japan's Nippon Life and Standard Chartered's...
Breaking out of the shell
Captive funds have becoming active in Asia but are they here for the long term?
AMP raises $342m for global debt fund
Australian infrastructure investment manager AMP Capital Investors has raised €241 million ($342.8 million) for an infra debt fund, which has made its first investment in a British company that leases passenger trains and freight locomotives. China...
Malaysian’s Ekuinas raises $169m
Malaysian SWF Ekuiti Nasional Berhad (Ekuinas) has launched an RM513 million ($169.5 million) vehicle, backed by its three fund managers, that is to invest in small- to medium-sized businesses in the domestic market.
Morgan Stanley PE’s Scott Hahn to raise $500m for Korean fund
Scott Hahn, a former CIO and Managing Director for Morgan Stanley Private Equity Asia (MSPE Asia), is reportedly raising $500 million for a new fund that will solely focus on South Korean investments.
TPG sells minority stake to Singapore, Kuwait SWFs
US-based buyout major TPG has reportedly sold a 4.5% stake in itself to sovereign wealth funds the Kuwait Investment Authority and the Government of Singapore Investment Corporation (GIC). The raised capital is said to be used for TPG’s own expansion,...
Macquarie SBI invests in GMR Airport
Macquarie SBI Infrastructure has officially invested $200 million in GMR Airport Holdings, a unit of Bangalore-based GMR Infrastructure, which operates two of India’s major airports.
BOC, Guangdong government launch PE firm
Guangdong-based Yuecai Investment Holdings and BOC Group Investments, operated by the Bank of China, have jointly launched a new private equity firm, BOC Yuecai Private Equity.
Apollo Global Management IPO flip-flops
Apollo Global Management LLC (APO) has raised $565 million on its recent IPO, selling 29.76 million shares, or 3.6 million more than it had expected. However, while the shares initially traded at top end of their $17-19 price range, Apollo’s performance...
Lakeshore launches Thai focused fund
Lakeshore, an investment firm led by Thai nationals, has announced the creation of Lakeshore Capital Asia Ltd, a $60 million growth capital fund manager focusing on Thailand. The fundraising is being assisted by London-based Chikusei Partners.
L Capital to invest Indian retailer
L Capital Asia, the $500 million private equity fund sponsored by luxury product giant LVMH Group is in discussions to buy stake in India fashion and lifestyle goods retailer Genesis Colors Pvt Ltd, according to a report by the Indian Times.
The international viewpoint
Mounir Guen, founder and CEO of private equity advisory MVision, speaks to AVCJ about the traps new investors fall into when making their first foray into Asia, and warns that chasing GDP won’t necessarily lead to returns.
Japan regulators offer flexibility for stability
To date, the Japanese government has estimated that damage from the interconnected natural disasters is likely to reach at least $198 billion, and it has pegged the possible economic loss at between JPY16 trillion ($196 billion) and JPY25 trillion ($306...