Industry
GOME's Huang goes directly to jail
Huang Guangyu, founder of Bain Capital investee GOME Electrical Appliances Holdings, has finally been convicted in Beijing on bribery and insider trading charges, after a protracted detention, and sentenced to 14 years in prison.
CIC invests Penn West oil sands
China Investment Corporation has continued the recent trend of PRC investment in Canada's northern oil sands regions, paying C$817 million ($801 million) for 45% of energy trust Penn West's Peace River project.
Infrastructure Q&A: Luis Miranda
Luis Miranda, President and CEO of IDFC Private Equity, talks about the Indian infrastructure opportunity, and international interest.
Showdown at GOME
The strength - and limits – of founder control in PRC investee companies received a sharp demonstration last week as major shareholders ostensibly connected to Huang Guangyu – founder of GOME Electrical Appliances and at that point awaiting trial in China...
China: Hope and Reality?
Post the GFC, China seems to be powering its way more or less untroubled to regional, if not global, economic predominance.
GE, CNOOC plan JV fund
PRC petrochemicals giant China National Offshore Oil Corp. (CNOOC) and General Electric Co. are in discussion to create a 50:50 JV private equity fund in the RMB3 billion ($440 million) range, according to PRC press reports.
Mayfield exits Servomax to founders
Mayfield is planning to sell its stake in power equipment company Servomax India Ltd., bought for $3.75 million in 2008, back to the founders.
Shinsei, Aozora call off bank merger
Shinsei Bank, 33% owned by US private equity group JC Flowers & Co., and Aozora Bank, 50.5% owned by Cerberus Capital Management, have called off their merger plan, due to many outstanding differences over business operations.
Goodman and CPPIB launch joint fund
Goodman Group, Australia's largest industrial property trust, and the Canada Pension Plan Investment Board (CPPIB) announced the formation of a joint Australia-focused fund with with a target gross asset value of around A$400 million ($350 million).
Ashmore aims to raise $750 million for new energy fund
Ashmore Investment Management, the London-based emerging markets specialist, and PTC India, formerly known as the Power Trading Corporation of India, reportedly plan to launch a joint new energy-focused, close-ended fund that aims to raise $750 million...
ICICI Venture launches two funds in infrastructure and property
ICICI Venture, the Mumbai-based private equity arm of ICICI Bank, will launch its maiden infrastructure fund over the next few weeks.
Korean regulator says no bias against foreigners
With a $3.7 billion stake in Korea Exchange Bank (KEB) up for sale, a commissioner with Korea’s Financial Services Commission, Choi Kyu Yun, said in an interview that “the market has misunderstood our position,” and that foreign bidders would be welcome...
SWFs meet in Oz
Earlier this month, 22 of the world’s sovereign wealth funds met in Sydney to discuss issues they all face with investment.
SAIF eyes June close, major RMB fund
SAIF Partners is close to the long-anticipated $1 billion close of its SAIF Partners IV fund, expecting a result by end June, and is planning its biggest RMB fund to date as a follow-on, according to reports.
Strong 3i results see higher prices but team growth in Asia
Speaking on much-improved full-year results from 3i Group plc, Michael Queen, 3i CEO, said that Asia had been a not so significant short-term contributor to the company's improved performance due to high entry prices, but that 3i has firm medium-term...
Shenzhen Oriental Fortune Capital raising its debut fund
Shenzhen Oriental Fortune Capital, a Chinese VC firm, is reportedly raising its first $100 million fund.
Celaya made fundraising head for IFC AM
Haydee Celaya, the former Director of the Private Equity and Investment Funds Department at the International Finance Corporation (IFC), has been appointed Head of Fund Raising and Marketing for IFC Asset Management Company, the IFC subsidiary managing...
NBIM to open in Singapore
Norges Bank Investment Management (NBIM), the manager of the $435.5 billion Norwegian Government Pension Fund, has announced plans to open a Singapore office to complement its current Asian presence in Shanghai.
Sinopec stakes its claim
Large PRC oil companies have been quietly taking ever-bigger positions in heavy oil businesses in Canada’s oil-rich Alberta province for some time.
Industry Q&A: Myo Capital
Justin Ferrier and Geoff Lee, founding Managing Directors at Hong Kong-based distressed and special situations firm Myo Capital, spoke to AVCJ soon after receiving a $150 million anchor commitment from DBS.
Actis JV with Tata targets up to $2b
Another indicator of the potential for infrastructure investment in India – and the importance of a local corporate partner in the Subcontinent – surfaced recently with Actis Capital’s announcement of a JV with Indian conglomerate Tata Group to invest...
Keeping LPs happy
The due diligence process has always played an important role for LPs when choosing funds to back.
And the second shall be first
Secondary deals, forecast for months now to see significant new volume across Asia Pacific, are fulfilling those predictions, as GPs pass investees from hand to hand.
Transurban rejects higher CPPIB/OTPP bid
Australian toll road major Transurban Group has rejected a higher takeover bid of A$7.2 billion ($6.4 billion) from the Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP), along with local fund manager CP2 Ltd....